The latest survey by the Federal Reserve finds that “nearly all regions of the United States are reporting that stronger housing markets have helped boost economic growth since the middle of August,” according to the AP report, “Fed survey: Housing is helping economy grow,” in the Chicago Sun-Times.
Residential real estate conditions have improved since the Federal Reserve’s August report with most of the regional districts reporting strengthening existing home sales and prices.
In the Chicago district, home builders report that single-family construction continues to rise at a slow, steady pace while multi-family construction is stronger. Lending standards continue to be tight for borrowers and residential development, while home prices are edging higher despite an increase in short sales. Read the Federal Reserve’s full economic report for the Chicago District.
Some more headlines:
Beige Book cites widespread improvement in real estate – HousingWire
Beige book: Economy continues to grow modestly – USA Today