Personal income grows, provides optimism for real estate market

Greater income could mean more home sales.According to the most recent release from the U.S. Department of Commerce, personal and disposable income both increased during April.Personal income grew by $46.1 billion, up 0.4 percent month-over-month. Disposable personal income increased $35.1 billion, up 0.3 percent from March, the Department's Bureau of Economic Analysis relayed. March's increases for both sectors were greater, as personal income increased by $54.6 billion and DPI by $46.3 billion. Both were 0.4 percent increases from February.In addition, personal consumption expenditures increased in April, growing by $41.5 billion. Again, while the gain was larger in March at $54.8 billion, April's total was 0.4 percent higher than that of March's.With more income available to consumers, and spending increasing, the real estate market for many regions could experience significant gains soon.The U.S. Census Bureau recently revealed that single-family home sales increased by 7.3 percent during April. With more jobs now available in Houston, real estate sales could soon reflect this national trend.Courtesy of Realty News?

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