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Housing is bright spot in update on economy

Posted on 11 October 2012

The housing market showed broad improvement as the economy continued to expand modestly in late August and September, the Federal Reserve said Wednesday. The Fed’s “beige book” report reinforced a host of recent data suggesting the housing market’s recovery is picking up steam. The report, which is based on anecdotes from business contacts and economists, said existing-home sales strengthened in all 12 Fed districts, while selling prices rose or held steady.
In general, the Fed noted that economic activity “generally expanded modestly” since its last report, with consumer spending inching up or staying level………………………………………..Full Article: Source


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