Again, there’s definitely some light at the end of this long tunnel. The Federal Reserve Bank of Boston’s Beige Book report sums up the regional economy as “generally positive, albeit moderate.” Among the sectors reporting steady though moderate growth: manufacturing, retail and business services. Of course, residential real estate remains “in the doldrums” but commercial real estate is showing signs of stability as 2010 drew to a close.
The Beige Book report points out that though the number of single-family homes and condos fell below 2009 levels, median prices continue to march up (except in New Hampshire). We all know real estate sales improvement only comes after general economy improvement, so all this is hopeful.