Posts Tagged ‘Beige Book’

The Fed Says Housing Market Slowly Rising

March 7th, 2013 Comments off

HousingWire informs MHProNews the Federal Reserve’s February Beige Book of growth in economic activity indicates the real estate market in almost all the districts recorded strong improvement as inventories shrank and home prices rose. While in Philadelphia low-end prices were firm or rising and the prices of high-end homes were falling, the districts of Boston, Dallas, Kansas City, Minneapolis, San Francisco and St. Louis showed modest gains overall. Home construction rose in most districts except in Kansas City where it remained unchanged. Multifamily building increased in several districts, but financing problems have stymied Atlanta and Cleveland in that regard.

(Photo credit: benzinga)

The Fed Says: Economy is Gaining Strength

January 17th, 2013 Comments off

From HousingWire comes news that all 12 Federal Reserve districts indicate the economy is growing, at least moderately, in their areas, according to the Beige Book. Loan demand grew in New York, Chicago, Dallas, and Atlanta but fell slightly in St. Louis. While posting a modicum of growth in loan demand, the increase for the districts of Cleveland, Kansas City, Philadelphia, Richmond, and San Francisco was virtually nil. While lending to real estate developers beyond multifamily projects is at a standstill in San Francisco, commercial real estate lending improved in the New York, Cleveland, Kansas City and Dallas districts. Real estate activity expanded or held steady in 11 of the 12 districts for existing home sales and leasing. MHProNews has been informed a rise in the prices of lumber and drywall in the Kansas City district hindered construction.

(Image credit: texaslendingtoday)

Federal Reserve District Banks upbeat on Housing Market

September 3rd, 2012 Comments off

According to nationalmortgagenews all 12 Federal Reserve banks reported improvements in residential real estate in their districts, as noted in the Beige Book. Compiled on Aug. 20, the snapshot says the housing market is “positive with continued increases in activity expected.” While the Philadelphia and Kansas City banks remain cautious about the shadow inventory in their districts entering the market, the New York, Richmond and San Francisco branches have noticed a reduction in the number of distressed properties. Atlanta, Boston, and Dallas banks report inventory of homes for sale is declining, pushing prices up. As MHProNews has learned, at the same time, Boston, Cleveland, and Kansas City districts predict gains will be modest moving forward.

(Image credit: Wikipedia)

Fed Reports Increased Real Estate Activity

February 29th, 2012 Comments off

Construction Site in Dallas, Eric Miller PhotoReports from the twelve Federal Reserve Districts suggest that overall economic activity continued to increase at a modest to moderate pace in January and early February. The Fed reports manufacturing continued to expand at a steady pace across the nation, with many districts reporting increases in new orders, shipments, or production and several districts indicating gains in capital spending, especially in auto-related industries. Activity in nonfinancial services industries remained stable or increased. Reports of consumer spending were generally positive, except for sales of seasonal items. Residential real estate market conditions improved somewhat in most districts, with several reports of increased home sales and some reports of increased construction. Residential real estate activity increased modestly in most Districts. Boston, Cleveland, Richmond, Atlanta, Kansas City, and Dallas reported growth in home sales, while New York noted steady to slightly softer home sales. Philadelphia reported strong residential real estate activity. In contrast, home sales declined in St. Louis and San Francisco noted that home demand persisted at low levels. Boston, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco reported increased multifamily construction activity. Banking conditions generally improved across the districts. Of the districts reporting on hiring, most indicated a slight increase. Prices of final goods and services were relatively stable in most districts.

(Image Credit: Eric Miller)

Fed’s Beige Book Finds Improving Economy, Slow Housing Market

December 1st, 2010 Comments off

Reports from the twelve Federal Reserve Districts indicate that the economy continued to improve, on balance, during the reporting period from early/mid-October to mid-November. Manufacturing activity continued to expand in almost all districts. Housing markets remain depressed, however with several Districts reporting further weakening during the past six weeks. Residential real estate and construction activity remained at a low level in all Districts. The Philadelphia, Atlanta, St. Louis, and Minneapolis Districts reported some further weakening in home sales. Boston, New York, and Richmond characterized the market as soft; while Cleveland, Kansas City, Dallas, and San Francisco described the market as sluggish. The Chicago District reported that high inventories of unsold homes continued to be a drag on new residential construction and home prices. Residential house prices were mixed. Price declines were observed in New York, Philadelphia, Atlanta, and Kansas City; prices were flat to up in Minneapolis, and prices edged up in Boston. The Dallas District reported that home prices increased on a year-over-year basis.

Categories: Economy Tags: ,