As Consumer Confidence Builds Lafayette Real Estate Gains

Dated: 03/20/2017

Views: 312

{mls: 16008829}

Growing Confidence Affects Lafayette Real Estate Scene

The attachment we build to the places where we live is an easy-to-understand human emotion. Almost everyone who has ever moved away from a family home has experienced a sense of loss that can be quite profound. But that’s only one of the emotional connections that come into play where real estate is involved.


Even though we tend to think of such important decisions as buying and selling Lafayette real estate in more hard-headed terms, a host of complicated human factors can play an important role.


One of them is becoming more prominent—and is likely to grow more so as we advance into Lafayette’s peak spring and summer real estate selling season. That is the hard-to-pin-down factor of general well-being: the nebulous—but real—sense of optimism or pessimism that is shared by the public at large.


It’s undeniable that when people feel good about the way things are going, they’re also more likely to feel confident in what the future will bring. Confidence breeds courage, security, self-assurance. When things seem to be going our way, we’re more likely to strike out in new directions.


The key word is “confident.” Social scientists do their best to get a handle on this murky shared human phenomenon by measuring “consumer confidence”—which seems to be an economic measure, but which has to be also aligned with the “right direction/wrong direction” polling that politicos track. In any event, when confidence rises, we’d expect that Lafayette real estate prospects will improve along with it.


The idea that emotion is a measurable part of real estate is confirmed by the quasi-governmental statisticians at Fannie Mae, who have institutionalized the idea with their Home Purchase Sentiment Index. (If “sentiment” isn’t an emotional measurement, what is?). And it’s up—way up! In February, the share of Americans who think it’s a good time to buy a house rose 11% to 40%—its highest point ever. And this month, by the end of last week, Bloomberg was reporting “consumer confidence” at its highest since 2000. The University of Michigan agreed, placing their “Current Economic Conditions” component at its highest since the same year.


As one who deals in the Lafayette real estate market every day, I can verify that when the general outlook turns positive, both buyers and sellers perk up—it’s palpable. It’s also true that the emotional component of real estate is a lot wider than consumer poll numbers measure. For example, there’s the feeling I get when I’m there to watch a client turn the front door key of their new Lafayette home!


I hope you’ll call as soon as your own Lafayette real estate plans begin to take shape. I’ll be able to help from the earliest stages on!

 

 

Blog author image

Ted Daigle

About Ted Daigle – Realtor Having the right real estate agent means having an agent who is committed to helping you buy or sell your home with the highest level of expertise in your local market. T....

Latest Blog Posts

Why have a dedicated Realtor... aka buyer's agent in your search for a home

Hey there!Thought I'd jump right into my blog and share a few quick thoughts to help you in your search for a home, whether it's your first or your fifth.  With all the information out there it

Read More

The Difference Between a Pre-Qualification vs. Pre-Approval

There is plenty of real estate terms used in transactions. Needless-to-say it can be confusing for both buyers and sellers trying to navigate the process. The home loan process might feel

Read More

Could Food Become a Future Lafayette Real Estate Trend?

For Lafayette real estate watchers on the lookout for the latest trends, here’s some food for thought. According to last week’s Wall Street Journal, it’s one formerly overlooked

Read More

Right-Pricing Affects All Sides in Lafayette Home Sales

 Successful pricing strategies in any endeavor must take the competition into account—so when it comes to right-pricing your Lafayette home, that factor is at least as important as any

Read More