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SOUTHEAST TRENDS -Continued from page 18“One change I believe we’re gettingready to see is No. 1 Common lumbergoing into flooring,” the source added.“Our flooring mill is already buying No. 1Common because it’s cheap, and you canget a great yield out of it. If it wasn’t forthe flooring market, I don’t know whatwe’d do with our lumber.”BEIGE BOOK REPORTS SLOWERHOME SALES IN SOUTHEASTAccording to the Federal ReserveBoard’s latest “Beige Book,” residentialreal estate markets remain on the declineacross most of the country. Those surveyedreported slower home sales in theRichmond, Atlanta and St. Louis Districts.Inventories of unsold homes or condoswere reported as higher or excessive inseveral districts, while home prices continuedto decline in most districts includingAtlanta where home prices droppedacross the board.Home sales continued to declinethroughout the Eighth District (St. Louis).Compared with the same period in 2007,year-to-date home sales are down 19 percentin Memphis and Louisville, and 16percent in Little Rock. Meanwhile, singlefamilyhousing permits have dropped 57percent year-to-date in Memphis, 41 percentin Louisville and 34 percent in LittleRock.Residential real estate agents across theFifth District (Richmond) reported generallyslower home sales as uncertain economicconditions kept some prospectivebuyers sitting on the sidelines. A VirginiaBeach, Va., realtor described the housingmarket as “anxious,” while a Fairfax, Va.,source said the “heart of his market” hassoftened but remains “very fragile.” InRichmond, Va., an agent predicted a “realchallenge” for the housing market to turnaround by the end of 2008. Sales weregood in the Greenville, S.C., market, andan agent in Charlotte, N.C., reported flatsales with an expected increase later thisyear.Reports from homebuilders in the SixthDistrict (Atlanta) indicated that new andexisting home sales remain below yearearlierlevels. Overall, housing inventoriesincreased and home prices declined acrossthe District. The outlook for residentialsales and construction activity over thenext several months was weaker relativeto previous reports.NEW ORLEANS IS FASTESTGROWING CITYAfter devastation by Hurricane Katrinain 2005, New Orleans, La., was thefastest-growing large city (100,000 ormore residents) between July 1, 2006, andJuly 1, 2007, according to a new report bythe Census Bureau. “This follows the cityhaving the largest rate of population losssince 2000,” the report said, noting NewOrleans’ population rose by 13.8 percentduring the time period.Other cities in the Southeast making thelist include Cary, N.C., (fifth); Port St.Lucie, Fla. (seventh); and Clarksville,Tenn. (ninth). Columbus, Ga., had thelargest percentage decrease due to adecline in the population living in militarybarracks. Columbus was followed byBaton Rouge, La.; Hollywood, Fla.;Jackson, Miss.; and Coral Springs, Fla.Baton Rouge and Jackson were bothaffected by evacuees from New Orleansmoving out.COMPANIES FINDING WAYS TOCOMBAT DIESEL COSTSTW Perry, a building materials supplierPlease turn the pageSEPTEMBER/2008 73