Nearly 5 percent of New York State residents planned to buy a home in May, a jump from previous months and the highest proportion since August 2008, according to a poll of 717 people conducted by the Sienna College Research Institute (see the full results below). In April, the figure was at just 3.4 percent, while it was at 3 percent in May 2009. An overall gain in consumer confidence last month also helped to boost homebuying plans. Consumer confidence rose 1.2 percent statewide in May, led by New York City-dwellers, whose confidence rose by 3.6 percent. Though the numbers are encouraging, “consumers remain cautious,” said Doug Lonnstrom, professor of statistics and finance at Siena College and the founding director of SCRI. “But pent up demand, as well as slow sustained gain in current confidence now result in buying plans for homes, computers, and cars hitting two to three year highs.” TRD
Siena College Research Institute