Survey Reports Home Prices Increased in September

Business Contact Surveys: Construction and Real Estate

November 2012

Southeast residential brokers reported that sales remained ahead of the year-earlier level in September, with 63 percent noting sales gains. Homebuilders' reports indicated that sales growth weakened somewhat. Most homebuilders described sales as flat to slightly up.

Both builders and brokers indicated that home inventories continued to decline on a year-over-year basis. Most brokers reported that home inventories were flat to down from August to September while most builders indicated no change month to month.

The majority of Southeast brokers and homebuilders reported that home prices increased on a year-over-year basis in September.

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

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 September, and the outlook is for construction to remain positive.

Note: The poll results are based on responses from 58 residential brokers and 28 builders. Responses were collected October 1–10, 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.