The Federal Reserve Board's periodic report on economic conditions is picking up some softening in home prices."A slight cooling in the pace of home sales dampened home price increases in some markets," according to the Fed's Beige Book. Home prices in the Dallas Federal Reserve Bank district "softened further" since October, the Beige Book says. Meanwhile, the New York district bank reported that housing demand remains strong, but that "prices have leveled off in New Jersey." The Beige Book also reported "some signs of cooling" in residential construction and sales in the Atlanta, Chicago, Dallas, Kansas City (Mo.), Richmond (Va.), and San Francisco districts. There are 12 Federal Reserve district banks.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry