Southeast homebuilders and residential brokers report that sales continued to increase on a year-over-year basis in May. Seventy percent of brokers reported sales gains, and 54 percent of builders reported that sales were up compared with a year earlier.
Both builders and brokers indicated that home inventories continued to decline on a year-over-year basis. Most builders and brokers reported that new home inventories were flat to down from April to May.
The majority of Southeast brokers and builders indicated that home prices were flat to slightly up on a year-over-year basis.
Southeast residential brokers and builders indicated that buyer traffic remained ahead of the year-earlier level in May.
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 May, and the outlook is for construction to remain positive.
Note: The poll results are based on responses from 58 residential brokers and 30 builders. Responses were collected June 4–13, 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.