Real estate slowly improving
Overall economic activity increased in nearly all parts of the country, with many districts reporting increased activity in residential housing markets, according to the latest edition of the Federal Reserve’s Beige Book.
The increase in the residential sector was from low levels, but spanned across almost every district except St. Louis, where it was mixed, and San Francisco, where it was flat. However, there is concern in many districts, notably, Philadelphia, Cleveland and Kansas City.
Home prices were stable across most districts, with decreases experienced in the New York and Atlanta districts. In addition, the New York, Kansas City, Dallas and San Francisco districts noted sluggish sales for high-end homes. In new residential construction, activity increased slightly in New York, Atlanta, St. Louis, Minneapolis and Dallas, but remained weak in Cleveland, Chicago and San Francisco.
Source: HousingWire.com, Austin Kilgore (04/14/2010)