As continually lowering mortgage rate averages are exhibited by national mortgage records, an increasing number of American consumers are reporting decreased worries associated with their personal finances. Meanwhile, additional housing markets across America have been observed improving this month, possibly adding to economists' lists of reasons the overall economy and housing market are improving.
A recent Gallup poll showed a significant increase in nationwide consumer confidence, as just 53 percent of respondents announce they are moderately or highly worried about their finances, after peaking at 61 percent the preceding year. According to the Economy and Personal Finance survey, which has been administered every April since 2001, the latest figures represent the lowest level reached since before the recession when 45 percent was recorded in 2007.
Each individual who completed the poll was asked how much they thought they typically worry about seven different financial issues, Gallup notes, including housing and medical costs, retirement and maintaining their current standard of living, as well as paying normal monthly bills.
The remaining 47 percent of respondents who did not report having negative outlooks regarding their financial standing were generally not worried about these matters. A total of 23 percent of consumers said they had none of the seven worries associated with finances.
NAHB adds four new residential sectors to IMI
In addition to the recent growth in consumer sentiment nationwide, a number of housing markets were recently listed as improving. The National Association of Home Builder's (NAHB) latest Improving Markets Index (IMI) showed the removal of 19 metropolitan areas, but the addition of Dothan, Alabama; Elizabethtown, Kentucky; Salisbury, Maryland; and Salem, Oregon.
"While seasonal trends in home prices resulted in an overall decline in the IMI this month, the index remains at a very strong level and continues to represent markets in every state," said David Crowe, chief economist for NAHB. "Some metropolitan areas that had previously charted marginal home-price gains dropped off the list this time as a result of typically softer prices seen in the winter months, which is similar to what the index showed in this same period last year."
The IMI boasts a total of 258 housing markets this month, moving down slightly from the 273 observed in April, but still enabling economists to make optimistic estimations for public property records in the following months of 2013. NAHB chairman Rick Judson voiced his contentment with the recent figures.
"The fact that over 70 percent of all U.S. metros are holding onto their spots on the improving list is definitely good news, and representative of the generally brightening outlook for housing markets nationwide," Judson said.