Rising consumer confidence points to stronger real estate market

By Mark Johnson

Vice President, Marketing and Technology

Prudential California Realty

The gradual recovery of the real estate market has only been held in check by consumer confidence, a category that has recently made substantial gains, according to Prudential California Realty’s February 2011 real estate report.

The report, which includes an analysis of data created by the Wells Fargo Economics Group, showed that consumer confidence jumped 7.3 points in January to a total of 60.6.

All of the key components increased solidly during the month, making this the best report for consumer confidence since the onset of the financial crisis. In Southern California, investors have returned, indicating an increase in confidence among people that understand the dynamics of real estate.

For sellers, this year presents a time when the advice of a qualified real estate professional is more critical than ever before to set realistic prices and receive a favorable outcome on the sale of a home.

   
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