Survey Reports Modest Progress in June

Business Contact Surveys: Construction and Real Estate

August 2012

Southeast homebuilders and residential brokers reported that sales remained ahead of the year-earlier level in June. Seventy-two percent of brokers noted sales gains year over year; 62 percent of builders said 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 May to June.

The majority of Southeast brokers reported that home prices were flat to slightly up on a year-over-year basis. Builders indicated that home prices were similar to the year-earlier level in June.

Residential brokers and builders in the region indicated that buyer traffic remained ahead of the year-earlier level in June.

Southeast brokers and homebuilders anticipate 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 June, and the outlook is for construction to remain positive.

Note: The poll results are based on responses from 60 residential brokers and 28 builders. Responses were collected July 2–11, 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.