Hotel bookings for spring are up from a year ago in Miami. Trends in the New Orleans hotel and hospitality industry reportedly remain positive with more emphasis being focused on foreign travelers. The majority of contacts report that home inventories are adequate, although several builders expressed concerns that new home inventories may be moving too high. Realtors generally believe home sales in the first quarter will exceed the previous year's level, while most builders anticipate construction activity will be flat to slightly down. Most builders and Realtors contacted expect home prices to rise over the next six months.
Contacts generally report that commercial construction continues to increase.
Declining vacancy rates and higher rental rates continue to drive forward new industrial, office, and retail development. Financial Most contacts in the banking industry reported flat lending. Consumer loan demand was mixed with softness reported in automobile financing. Commercial loans were level, and mortgage lending slowed slightly. Overall loan quality held steady.