The majority of Southeast homebuilders and residential brokers continued to report that sales increased on a year-over-year basis in February. Two-thirds of brokers reported sales gain, while half of builders reported that sales were up slightly compared with a year earlier.
Both builders and brokers indicated that home inventories continued to decline on a year-over-year basis. The majority of builders reported that new home inventories were unchanged from January to February. Most broker reports indicated that home inventories were flat to down.
Southeast broker indicated that home prices softened again on a year-over-year basis in February, and builders continued to note more moderate declines.
Southeast residential brokers indicated that buyer traffic continued to improve on a year-over-year basis in February while builder reports remained positive but moderated somewhat.
Southeast brokers and homebuilders expect that year-over-year home sales growth will remain positive over the next several months.
Southeast builders reported that construction activity remained ahead of the year earlier level in February and the outlook is for construction to remain positive.
Note: The poll results are based on responses from 66 residential brokers and 38 builders. Responses were collected March 5–14, 2012.
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.