Business Contacts Surveys - August 2011
Construction and Real Estate Survey Results
Reports from southeastern brokers indicated that home sales growth in June was level with a year earlier. Builders reported that sales fell slightly below the year earlier level.
Most southeastern brokers and builders reported that home inventory levels eased in June compared with a year earlier.
Southeastern contacts continued to report that home prices in June were flat to slightly down on a year-over-year basis.
Southeastern brokers reported that buyer traffic remained positive in June on a year-over-year basis while builders noted buyer interest was little changed.
The outlook for sales growth among southeastern residential brokers held steady in June and builders' outlook improved slightly.
The majority of southeastern homebuilders reported that home construction activity was flat to slightly down in June compared with a year earlier, but the outlook remained slightly positive.
Note: April poll results are based on responses from 82 residential brokers and 37 builders. Responses were collected July 5–13.
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.
The District Retail Survey showed increased activity in May, and the outlook among retailers became more optimistic.
- The District Retail Survey showed that retail activity increased among retailers in June, with 64 percent of respondents reporting activity at or above plan. Respondents noted that consumers' uncertainty about the economy is still impacting sales.
- The majority of survey participants reported that inventory levels were unchanged or up slightly in May. One respondent noted that the supply disruptions from Japan are still suppressing inventory levels and affecting sales.
- Sales tax collections in the sixth district increased relative to the same period last year. Average sales tax revenue from April to June increased 5.2 percent over April to June of 2010. The growth of sales tax revenue has slowed in recent months for every state in the sixth district except for Tennessee.
Note: +1 = Increase 0 = No change –1 = Decrease
Note: April 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.
Southeast Home Sales vs. a Year Earlierchart:survey_1108a.jpg showOnHome