Although a few firms in the Chicago district have attempted to raise their selling prices, these efforts have not been entirely successful. The evolving Asian situation has had some depressing effect on prices, according to most district reports. The Dallas district reports that Asian currency movements against the U.S. dollar have caused widespread declines in the prices of commodities, computer components and petrochemical products. In the Atlanta district, some import prices have fallen, although not among importers with fixed contracts. Meanwhile, retailers in the New York district report that no significant price declines in consumer goods have occurred.
Every district reports strong residential housing market conditions.
New home construction is described as unseasonably brisk in several districts, including Boston, Chicago, Cleveland, New York and St. Louis. Mild winter weather, high consumer confidence and low interest rates are credited with much of this strength. However, in several districts, such as Atlanta, Dallas, and Richmond, otherwise robust activity is being hampered by wet weather. Sales of new and existing homes are reportedly strong in most districts, and modest price appreciation is noted by many districts. Commercial real estate markets are uniformly described as strong by reporting districts.