Tag Archives: Beige Book

The Beige Book reports that home prices are on a steady rise in most districts, though several districts note low inventories of existing homes. Lending activity stayed steady for the most part, with some slight increases.

Many economists are anticipating a June rate hike by the Federal Reserve. Will the Fed’s less-than-stellar economic report on Wednesday prevent that?

The pace of economic growth varied throughout the 12 Federal Reserve districts. What trends developed in residential real estate?

Contacts in the Fed's 12 districts reported mixed but slightly improved housing markets since the previous Beige Book was issued.

Which Federal Reserve Districts have experienced the most progress in housing in the last month and a half?

The reporting period for the latest Beige Book found residential housing markets have generally improved since the last report with increasing home prices and sales volumes driving the improved housing markets.

Robust demand and declining inventory were the driving factors behind the increase in home prices, according to contacts in most Fed districts. Inventories in nearly all districts declined or stayed flat, except for Kansas City, where they slightly increased

"Almost all of our contacts noted a seasonal increase in their residential mortgage business, which was heavily weighted toward new-home purchases," the Fed wrote. "The rapid rise in rental rates was cited as a motivating factor to purchase homes. Little change was reported in delinquencies (already at low levels) and loan-application standards."

The Federal Reserve reported in its Beige Book on Current Economic Conditions for May 2015 that residential real estate activity and construction has expanded in most districts since the previous Beige Book report in mid-April and that outlooks were "largely positive."

The districts of Richmond, Chicago, and Dallas reported that residential mortgage demand, particularly in the area of refinancings, grew during the period, while New York reported steady growth. Delinquencies were down or at low levels in New York and Cleveland, while Philadelphia and Kansas City bankers expressed confidence in the quality of their loan portfolios, according to the Fed.