By the Missoula Organization of REALTORS®
Sometimes there really isn’t an explanation for the way things pan out. For example, as gas and consumer products’ prices increase, consumers are beginning to feel more confident in the economy and their own personal income. I’m sure you can personally attest to that if you’ve been to Southgate Mall or any one of Missoula’s amazing restaurants recently, you’ve no doubt noticed an increase in traffic.
It could be a desperate desire to escape the hold of winter’s cabin fever, but many suggest it’s a trend towards “Frugal Fatigue,” the idea that we’re tired of being so economical. While spending is still more responsible than it was prior to the crash, consumers are beginning to feel more confident in their financial security. Folks are shopping, and eating out, and even looking for upgrades in their homes, stepping out, just a bit, when it comes to spending.
On a national level, fewer American’s filed claims for jobless benefits in the last couple of weeks, but what is more exciting is that business activity has picked up. It expanded in March at close to the fastest pace in two decades. That will translate into jobs and a pickup in payrolls for both US and local citizens.
With what appears to be business expansion and more jobs on the horizon, housing needs are beginning to be looked at seriously by many consumers. There is always a segment of the market that must move; whether it is for a new job, a new baby, or an economic situation. However the larger segment, the families that can hold out a little longer are now beginning to see stability in their work, confidence in the economy and an opportunity for a good deal on a home at a low interest rate. These factors combined have begun to create a spring thaw in housing sales in Missoula.
Another part of that consumer confidence is trust. In Missoula, we were fortunate enough to not experience much in the way of shady practices and predatory lending. Many consumers feel that professionals in this market actually do have their best interest at heart, and therefore feel positive in stepping back into the market.
That is exactly what the market needs in order to bloom–confidence and a positive outlook. I would challenge each of you to consider the impacts of our day to day lives in a positive way. Be thankful for our families and the amazing community we are blessed to live in.
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Diane Beck has been selling real estate in Missoula for over 20 years. Her knowledge, experience and commitment to the community has placed her in the forefront of the real estate market. Diane is serving the Missoula Organization of REALTORS® as their 2011 President and she continues to strive for the best interests of their members, community and her clients.