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BREAKING: Home Prices See Record-Breaking Increase in April; New-Home Sales Highest Since 2008; Consumer Confidence Surges to 5-Year High

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2.1 percent to a seasonally adjusted annual rate of 476,000 units – the highest level since July 2008. It was the third straight month of gains in new-home sales, reflecting a continued resurgence in the U.S. housing market.

In more record-breaking news today, The Conference Board said consumer confidence in June rose to a more than five-year high. The index rose to 81.4 from 74.3 in May, marking the best level since January 2008. The Conference Board Consumer Confidence Index® now stands at 81.4 (1985=100), up from 74.3 in May. The Present Situation Index increased to 69.2 from 64.8. The Expectations Index improved to 89.5 from 80.6 last month.

Says Lynn Franco, director of Economic Indicators at The Conference Board: “Consumer Confidence increased for the third consecutive month and is now at its highest level since January 2008 (Index 87.3). Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year. Expectations have also improved considerably over the past several months, suggesting that the pace of growth is unlikely to slow in the short-term, and may even moderately pick up.”

Stay tuned to RISMedia for continuing coverage of the housing recovery.

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