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July 28, 2006
Growth Slowing Across the Country, Fed Regional Reports Say
The regional reports from the 12 Federal Reserve districts indicate that residential real estate activity is slowing, as sellers take longer to find buyers for homes and more homes remain on the market unsold. The central bank reports that the New York region has a large number of high-end homes that are still on the market, and in Florida, home builders are offering all kinds of incentives to attract buyers. Meanwhile, in the Kansas City metro area, foreclosures are on the rise among low-income families. St. Louis, where home sales have been consistent, and Dallas, where demand and construction are strong, were the only regions that did not report a slowdown in housing.
Posted by S. Germain at July 28, 2006 08:31 AM