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The Federal Reserve  Board’s released their Beige Book. This is a collection of leading economic indicators. They are recognizing that there is some cooling in the residential marketplace.

However, the commercial marketplace is seeing renewed vigor as building is picking up, and rents are rising in many major markets.

Many Districts reported moderation in residential real estate activity, although from a high level. Boston, New York, Cleveland, Richmond, Atlanta, Chicago, and Minneapolis reported some cooling in real estate markets. While some of the hottest markets in the San Francisco District have cooled–for example, Southern California and the San Francisco Bay Area–other areas, such as Oregon and especially Hawaii, have reportedly heated up further. Kansas City and Dallas continued to see strong housing markets. And construction and repair work remained brisk in Louisiana and Mississippi.

Conditions in Districts’ commercial real estate markets generally continued to improve. Vacancy rates fell in the San Francisco, Minneapolis, New York, Dallas, Richmond, and Kansas City Districts. Chicago reported a more mixed picture, with some areas of the District expanding but activity in the city of Chicago flat. Largely because of lower vacancy rates, rents rose in San Francisco and New York, while previous concessions were reduced or eliminated in Dallas. New construction activity was reported to be increasing in the San Francisco, Minneapolis, St. Louis, Atlanta, and Cleveland Districts, and many contacts expect this trend to continue in 2006. via FRB: Beige Book–Summary–Janaury 18, 2006.

Related posts:

1. Slowing Commercial Real Estate Market Leads To Consolidation
2. Residential and Commercial Real Estate Go In Different Directions
3. Manhattan Commercial Real Estate Occupancy at 8.7%
4. Commercial vs Residential Real Estate: A Couple of Bubble Questions
5. Weak Florida Residential Sales Main Part of Fed Report