Consumer Sentiment climbed more than forecast in May as Americans turned more hopeful that employment gains will be sustained, helping them cope with higher fuel and food costs.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 72.4, a three-month high, from a final reading of 69.8 in April, the group reported today.
This is another positive for the housing market. As consumers feel more confident about the economy, they are more likely to pull the trigger on that next home.
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