The Consumer Confidence Index has been called a "lagging indicator." This means that most people's confidence depends on what has already happened to them, i.e. expectations are based on past experience. Right now, the Consumer Confidence Index is going up, posting a 70.4 in February, up from 60.6 in January. When times are really good the Index is around 100. During the recession, the Index fell to an all time low of 26.9 in March 2009.
What does this mean for real estate? Well, I continue to believe that consumer confidence is slowly being restored and that the real estate market will normalize when the American consumer feels good about the economy. We are seeing positive signs, including the Consumer Confidence Index, and are hopeful that the Spring market in the Durango, Colorado area may show a correlation to this increasing confidence level.
If you have any questions, please do not hesitate to call me. You can reach me, Don Ricedorff, at The Wells Group 970-375-7014, don@frontier.net, or at my website at durangorealproperty.com.
Don Ricedorff is a licensed real estate broker in the State of Colorado, with 18+ years of experience, and he resides in Durango Colorado.He has numerous real estate designations, which have provided him with an unparalleled education to assist his clients. The designations include:
CRS, Certified Residential Specialist
CRB, Certified Residential Broker
CCIM, Certified Commercial Investment Member
CDPE, Certified Distressed Property Expert
ABR, Accredited Buyer Representation
GRI, Graduate of Realtor Institute
RSPS, Resort and Second Home Property Specialist
CIPS, Certified International Property Specialist
SRES, Senior Real Estate Specialist
He is also an active volunteer in the community and his church. His highest aspiration is spending time with his wife, Janet, and his three children Kelly, Katie, and Kyle. His other interests include playing tennis, fly fishing, hiking, boating, and water skiing.
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