Although harsh weather conditions, weak new home construction and low inventories made residential real estate activity a mixed bag in the last two months, much of the country —especially the East Coast — is enjoying a spike in home prices and lending, according to the Federal Reserve Bank’s June 4 Beige Book.
The “Summary of Commentary on Current Economic Conditions by Federal Reserve District,” commonly known as the Beige Book, is published by the Board of Governors of the Federal Reserve System eight times per year. The June 4 report is based on information collected through May 23.