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Federal Reserve Says Region's Commercial Real Estate, Residential Markets Softening

DALLAS-The commercial and residential real estate markets are cooling off, except for apartment demand, so says the latest report by the Federal Reserve Bank. The conclusion may help to offset that "at risk" ranking leveled by the FDIC earlier this fall.

By Connie Gore | Updated on November 17, 2000

DALLAS-The commercial and residential real estate markets appear to be softening, according to the November report for the 11th District Federal Reserve Bank.

The federal Beige Book reporting concludes construction and real estate activity is staying a strong course, but there are continuing signs that activity is cooling – an assessment that may help to offset the region’s third-quarter “at risk” for overbuilding charge from the FDIC.

All but Houston is showing a slowdown in residential markets. Builders claim rising interest rates have sidelined some would-be homebuyers and precipitated a surge in apartment demand. Some regions reportedly are experiencing 20-year lows. Despite the demand, the highly competitive market is still courting prospective tenants with offers for incentives and rent concessions.

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