March 25, 2014
Statement from LIA Chief Economist on consumer confidence
By: Dr. John Rizzo
Statement on Consumer Confidence and Home Prices Sales
"Good economics news today on consumer confidence and the housing market. Driven by expectations of an improving economy, The Conference Board's Index of Consumer Confidence rose substantially in March, well in excess of estimates. This is consistent with consumer confidence on Long Island, which has been high relative to the rest of New York State. Home prices increased at a robust year-over-year rate of 13.2%, while new home sales were in line with expectations," said Dr. John A. Rizzo, LIA Chief Economist.