Business Contacts Surveys: Construction and Real Estate Survey Results - February 2012

Business Contact Surveys: Construction and Real Estate

February 2012

Reports from southeastern brokers indicated sales growth improved modestly during December on a year-over-year basis. Builders indicated that new home sales growth in December continued to improve. The majority said sales were up compared with a year earlier.

Southeast contacts reported that home inventories continued to decline on a year-over-year basis. Most builders reported that new home inventories were unchanged from November to December. Brokers reported that inventories were flat to slightly down on a year-over-year basis.

Southeast contacts continued to report downward pressure on home prices.

Southeast residential brokers indicated that buyer traffic remained above the year-earlier level in December.

The outlook among both builders and brokers continued to improve.

Southeast builders reported that construction activity continued to improve, as did their outlook for activity.

Note: The poll results are based on responses from 73 residential brokers and 43 builders. Responses were collected January 3–11.

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.