Fed Beige Book Shows Softening Housing, Commercial Activity

Originally published on November 30, 2022, by the Board of Governors of the Federal Reserve System.

Residential sales fell during the past month amid high interest rates, dropping moderately in some parts of the country but much more steeply in others, the Federal Reserve reported Nov. 30 in its latest Beige Book. Commercial sales and leasing have also softened, and vacancies continue to climb.

This report was prepared at the Federal Reserve Bank of Boston based on information collected on or before November 23rd, 2022. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.

Federal Reserve Banks collect information for the Beige Book from a variety of business and nonbusiness sources. As of November 30, 2022, seven Banks now include individual community sections with information from nonbusiness sources, while the remaining Banks will continue to include such information within the existing structure of their District reports.

View Report
Share this post: