Brisk spending was reported for apparel, particularly outerwear and shoes. This was largely attributed to cold weather in the second half of the month. Sales of toys and home electronics were also described as strong. In general, selling prices are said to be little changed from a year ago. Retailers report difficulty in finding adequate staff for the holiday season, but no more so than last year.
Some retail contacts note that costs of health benefits have risen substantially.
The District's housing markets have remained strong since the last report, aside from some moderation in New York City's chronically tight market. Sales of existing single-family homes across New York State held steady at a high level in October, while the average selling price was little changed at a level roughly 7 percent higher than a year ago. For the New York-New Jersey region overall, apartment construction continues to be strong. Single-family home construction picked up in October, though the general trend has been down. Homebuilders in northern New Jersey say that demand remains strong, but that construction activity has slowed due to a dearth of buildable lots.