The Fed’s latest Beige Book of economic activity around the country is out. Overall, the story hasn’t changed much but the overall message of a very-slow-but-still-growing economy seems to be a little more upbeat. For the real estate market for the Boston District (which encompasses all of NE), the picture is what we’d expect — the summer sales were horrible:
Meanwhile, the median prices of homes and condos rose in August compared to last year, except in New Hampshire where the median home price slipped 2.7 percent. Inventory continues to rise throughout the region; most contacts interpret the increasing number of listings as a sign of confidence among sellers … Contacts around the region forecast flat sales or continued year-over-year declines for the rest of 2010. As of August, all six New England states report year-to-date home sales above last year, but most contacts expect that by the end of the year the total number of sales will be about even with 2009.
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