Consumer confidence surged to a 16+-year high in March. Consumer optimism is supported by a strong labor market and a positive economic outlook.
The GDP increased 2.1% in the 4th quarter, signaling economic growth. Consumer spending
accounts for more than 2/3rds of U.S. economic activity.
Fed members made comments this week supporting more than 3 rate hikes this year. The majority still favor a gradual approach to increases though.
home sales rose 5.5% in February, a 2.6% increase year-over-year. Warm weather and potentially higher interest rates have been said to be the cause.
prices roared to the highest levels in nearly 3 years as demand remains strong. Tight inventory continues to be an issue, supporting increasing prices.
winter weather also has led to a surge in new home construction. However, homebuilders are struggling to find enough workers to meet demand.
For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce