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Rising Income, Employment Lift Consumer Housing Outlook

Monday, June 8, 2015

The recent improved employment statistics which included an acceleration in average hourly earnings and a reported increase in personal income (a March to April bump of 0.4 percent) were reflected in Fannie Mae's May National Housing Survey.   The share of survey respondents reporting a significant increase in their household income of the last 12 months climbed 4 percentage points to a near all-time high of 28 percent. Those expecting an improvement in their personal financial situation rose 1 point to 46 percent, the highest rate in at least a year.

 

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