The Federal Reserve has released its first Beige Book of 2016, and despite existing-home sales falling to their slowest pace in 19 months in November, the 12 Federal Reserve Districts reported mixed but slightly improved housing markets for the six-week period leading up to January 4. Part of the reason that inventories remain low is that residential construction in the single-family home space “remains sluggish, with developers reluctant to build inventories,” according to the Fed. Multifamily construction, on the other hand, “continues to be brisk,” as most of the 12 districts reported modest or moderate growth in commercial construction. Overall, economic activity expanded in nine of the 12 districts since the previous Beige Book was issued in December.
Wednesday, February 10, 2016
Fed: Tight Inventory Still Dogs Housing Markets
Source: DSNews.com
The Federal Reserve has released its first Beige Book of 2016, and despite existing-home sales falling to their slowest pace in 19 months in November, the 12 Federal Reserve Districts reported mixed but slightly improved housing markets for the six-week period leading up to January 4. Part of the reason that inventories remain low is that residential construction in the single-family home space “remains sluggish, with developers reluctant to build inventories,” according to the Fed. Multifamily construction, on the other hand, “continues to be brisk,” as most of the 12 districts reported modest or moderate growth in commercial construction. Overall, economic activity expanded in nine of the 12 districts since the previous Beige Book was issued in December.
The Federal Reserve has released its first Beige Book of 2016, and despite existing-home sales falling to their slowest pace in 19 months in November, the 12 Federal Reserve Districts reported mixed but slightly improved housing markets for the six-week period leading up to January 4. Part of the reason that inventories remain low is that residential construction in the single-family home space “remains sluggish, with developers reluctant to build inventories,” according to the Fed. Multifamily construction, on the other hand, “continues to be brisk,” as most of the 12 districts reported modest or moderate growth in commercial construction. Overall, economic activity expanded in nine of the 12 districts since the previous Beige Book was issued in December.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment