The April edition of the Federal Reserve's Beige Book reports an increase in overall economic activity in nearly all parts of the U.S., with many districts reporting increased activity in residential housing markets.

The increase spans almost all districts, except for St. Louis, whose market has been affected by the impact of seasonal blizzards and reported mixed levels, and San Francisco, which remains flat. There are some concerns about the impending end of the tax credit and what effect that will have on the market once it has expired.

Overall, home prices were stable, with decreases in New York and Atlanta, and sluggish sales for high-end homes in New York, Kansas City, Dallas and San Francisco. New York, Atlanta, St. Louis, Minneapolis and Dallas saw increases in new residential construction.

Read more about the Beige Book report at HousingWire and from the summary at the Federal Reserve's Web site.

Posted in Real Estate Market Conditions, Real Estate Industry, Luxury Home Market, National News

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