New York home purchasing plans increase as nation's overall consumer confidence rises

According to the latest poll by the Siena Research Institute (SRI), New York State consumer buying plans were up for homes, 0.3 points to 4 percent. Overall New York State confidence increased 0.7 points in December, while the nation's confidence increased 5.1 points. New York's overall consumer confidence is 6.7 points below the national 72.5 confidence level.

Dr. Don Levy, director of SRI, credits the increase in consumer confidence to prices being too good for buyers to pass up and says that plans to purchase homes are up between nine and 60 percent from a year ago. "Last year fewer New Yorkers compared to today believed their personal finances would improve and the 'gloom and doomers' had a far greater lead over the optimists than they do now as we kick off the 2010 season," said Levy.

To read the entire SRI press release, click here.

1/15/2010