Data & Analysis

Business Contacts Surveys - July 2011

Southeast Home Sales vs. a Year Earlier

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Source:

Construction and Real Estate Survey Results

Reports from southeastern brokers indicated that May sales in the region improved on a year-over-year basis. However, builders reported that new home sales remained very low, and broker reports outside Florida indicated that sales softened, similar to national trends.

Most southeastern brokers and builders reported that home inventory levels were flat or down compared with a year earlier.

Southeastern contacts indicated more modest year-over-year price declines in May.

Southeast brokers reported stronger buyer traffic eased in May on a year-over-year basis, while builders noted a pickup in buyer interest.

The outlook for sales growth among southeastern residential brokers and builders softened somewhat.

Southeastern builders reported that home construction activity remained weak in May while the outlook for growth stalled.

Notes: May poll results are based on responses from 86 residential brokers and 38 builders. Responses were collected June 6–15.

The housing survey's diffusion indexes are calculated as the percentage of total respondents reporting increases minus the percentage reporting declines. Positive values in the index indicate increased activity; negative values indicate decreased activity.

Retail Survey Results

The Sixth District Retail Survey showed slowed activity in May, and the outlook among retailers became less optimistic.

• The District Retail Survey showed that retail activity slowed among retailers in May, with 55 percent of respondents reporting activity below plan.
• Respondents noted that adverse weather, the impact of gas prices, and consumers' general pessimism about the economy have affected sales.
• Fewer retailers continue to be optimistic about the outlook. Forty-four percent of survey respondents expect an increase in sales over the next three months, following 49 percent in April and more than 60 percent in each of the preceding three months.

Notes: Note: +1 = Increase 0 = No change –1 = Decrease

May survey results are based on responses from 41 retailers and were collected June 6–15.

The retail survey's diffusion index is calculated as the percentage of total respondents reporting increases minus the percentage reporting declines. Positive values in the index indicate increased activity while negative values indicate decreased activity.