Industry Update: Homebuilding

Industry Update: Homebuilding | Megan McGrath, CFA, Executive Director | Dec. 4, 2014 (Read Report)

Overall, even taking typical seasonal weakness into account, the tone of yesterday’s Beige Book on residential real estate was a bit weaker than we had been anticipating. Many regions reported sequential slowdowns in real estate sales: this could be partially explained by typical seasonal patterns, although it does appear as if some y/y growth trends also recently slowed. In our view, only two Districts showed improving trends in this report (Chicago and Richmond), while the remainder of the country deteriorated or was generally in line with the prior report. Interestingly, despite somewhat softer demand trends, the use of incentives was not mentioned in the report by any real estate or builder contacts and pricing overall appears to continue to be up, although rising at a slower pace. (Read more)

2018-06-20T03:52:59+00:00