Each month, Bespoke runs a survey of 1,500 US consumers balanced to census. In the survey, we cover everything you can think of regarding the economy, personal finances, and consumer spending habits. We’ve now been running the monthly survey for more than two years, so we have historical trend data that is extremely valuable, and it only gets more valuable as time passes. All of this data gets packaged into our monthly Bespoke Consumer Pulse Report, which is included as part of our Pulse subscription package that is available for either $39/month or $365/year. We highly recommend trying out the service, as it includes access to model portfolios and additional consumer reports as well. If you’re not yet a Pulse member, click here to start a 30-day free trial now!
Continuing with the bullish theme we saw in a breakout month for our Consumer Pulse Report, the positive sentiment has consumers looking to spend on big ticket items. Of course the increase in income and feelings towards personal finances are a positive for consumer spending, but the intention to buy these big ticket items is also quite telling and a source for optimism. As you can see from the first chart below, survey respondents that are expecting to purchase a home in the next year jumped more than three points up to 11.1% in December, which is clearly a new high in our survey’s history.
Along with new highs for home purchase expectations, our December Pulse survey also showed a spike in intentions to purchase a vehicle. One-third of respondents said either “yes” or “maybe” when we asked them if they plan on purchasing or leasing a vehicle in the next six months. That’s the highest reading we’ve seen in the three years we’ve been running our survey.
To see our full December Pulse report, click here to start a 30-day free trial now!