Consumer confidence is an elusive thing. It is not like all the troubles of the world have all of a sudden gone away. It does measure how people feel about their economic position at a certain point in time. Perhaps more people believe the economy is getting better. Perhaps it is due to the stock market, or perhaps it is due to better feelings about the future economy.
The effect that it has on real estate is that more people are feeling better about their financial situation so they are more willing to make a big investment. Real estate traditionally is where most feel comfortable. They need a place to live. They can see touch and feel real estate.
Like any other investment some will be better than other. I hate to sound like a National Association of Realtors commercial however a local real estate agent can guide you through the process in your local market. Whether you are buying or selling commercial or residential real estate , it helps to have as much information as possible from people who know the local market well. If you need assistance I would be pleased to help.