Region's Housing Market Improves Slightly in October

Business Contact Surveys: Construction and Real Estate

December 2012

Southeast residential brokers reported that sales remained ahead of the year-earlier level in October, with 70 percent noting sales gains. Homebuilders indicated that sales growth rebounded; 75 percent reported an increase in sales.

Both builders and brokers indicated that home inventories continued to decline on a year-over-year basis in the Southeast.

More than two-thirds of Southeast brokers and homebuilders reported that home prices increased on a year-over-year basis in October.

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

Southeast brokers and homebuilders anticipate year-over-year home sales growth will remain positive over the next several months.

Southeast builders continued to report strong gains in construction levels during October compared with historically low levels of last year.

Note: The poll results are based on responses from 58 residential brokers and 25 builders. Responses were collected November 5–14, 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.