Morning Minute: Stronger housing market helping to boost economy

The latest survey by the Federal Reserve finds that “nearly all regions of the United States are reporting that stronger housing markets have helped boost economic growth since the middle of August,” according to the AP report, “Fed survey: Housing is helping economy grow,”  in the Chicago Sun-Times.

Residential real estate conditions have improved since the Federal Reserve’s August report with most of the regional districts reporting strengthening existing home sales and prices.

In the Chicago district, home builders report that single-family construction continues to rise at a slow, steady pace while multi-family construction is stronger. Lending standards continue to be tight for borrowers and residential development, while home prices are edging higher despite an increase in short sales.  Read the Federal Reserve’s  full economic report for the Chicago District.

Some more headlines:

Beige Book cites widespread improvement in real estateHousingWire

Fed’s Beige Book Notes Widespread Improvement in Housing MarketFox News

Beige book: Economy continues to grow modestlyUSA Today

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.