Consumer Confidence to New Homes Sales Return to 2008 Levels

Kent Hoover, Chief of Washington Bureau stated that we are back to where we were in 2008 as far as confidence level of consumer to new home sales.  This news is good for the economy.  The Conference Board Consumer Confidence index is 85.2 in June which is the highest level since January 2008.

Lynn Franco, director of economic indicators for the conference board stated that June's increase was due to improving current conditions, particularly consumer's assessment of business conditions.

May's sales rate was the highest in six years which is another sign of the improvement of the housing market condition. Inventory and average sales price also increased in May.