Jun
16
Originally published on June 8, 2021, by Tom Acitelli for The Commercial Observer.
Call it another benefit of education.
Filtered by category: Industry Clear Filter
The Wave of Pandemic-Era Relocations Continued in April, With Nearly 31%
While relocations eased slightly in April from the first quarter, the share of people moving from
one part of the country to another is still well above pre-pandemic levels
The value of properties sold is roughly equal to the GDP of France,
Redfin Survey: 1 in 5 Americans Believes Climate Change
Nearly two-thirds of U.S. homeowners have spent money to protect their homes against climate risks, with over one-third investing $5,000 or more. Extreme temperatures and flooding are among the top concerns.
Jun
15
The Appraisal Qualifications Board (AQB) is evaluating changes that would make virtual education delivery a permanent option for continuing education. The AQB released a second exposure draft for qualification criteria on June 3. Distance Education Requirements, Section III D (page 4) defines synchronous education and allows for synchronous education to be used in the same manner as on-site classroom courses. The AQB is accepting commits on the exposure draft until July 30. To submit comments, please visit: https://www.surveymonkey.com/r/AQBComments. You may also send comments to [email protected].
Jun
09
Originally published on June 3, 2021 by Rachel Conner for Realtor.com.
Realtor.com® Housing Report: Home Prices Reach New High at $380,000 in May
Price Growth Remained in Double Digits for 10th Straight Month in May; Price Growth Moderation Expected Later in 2021
-- Lack of available homes for sale push U.S. median listing price up 15.2% year-over-year
-- The number of homes for sale ended the month 50.9% lower than last year
-- Larger metros offer buyers lower price gains and larger growth in newly listed homes
-- Nationally, homes are selling more than a full month faster than last year and 19 days faster than the typical time on the market from 2017 to 2019
Read More
Jun
09
Originally published on June 2, 2021, by John Gittelsohn for Bloomberg.
(Bloomberg)—Even as the remote-work era clouds the future for offices, one segment of the business is drawing cash from investors including Blackstone Group Inc. and KKR & Co.
Read More
Mortgage Rates Up as Market Sees Rising Labor Expenses, Inventory Shortage: Report
Category: Industry
Jun
09
Originally published on May 20, 2021 by Freddie Mac.
MCLEAN, Va., May 20, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.00 percent.
Read More
Jun
09
Originally published on May 17, 2021, by William Maher for UrbanLand Magazine.
Real estate economists predict markedly improved U.S. economic and property market conditions over the next three years, 2021 to 2023, compared with the forecast of six months ago, according to the spring ULI Real Estate Economic Forecast.
Read More
Spread Between Retail and Industrial Property Rents Continues to Compress, JLL Reports
Category: Industry
Jun
09
Originally published on May 20, 2021. by Michael Tucker for Mortgage Bankers Association.
JLL, Chicago, reported the spread between retail property rents and industrial property rents is compressing as home deliveries speed up and e-commerce steals more and more market share from brick-and-mortar retailers.
Read More
Jun
08
Originally published on May 26, 2021, by George Ratiu for Realtor.com.
Pandemic Homebuyers Are Happy With Their Homes
- One-in-four recent homeowners purchased because of the pandemic
- Majority of recent buyers bid at or above the asking price
- 70% of recent homebuyers feel good about purchasing decision
- 75% of recent homebuyers are happy with their homes
- Over 70% of recent homebuyers are happy with their communities and neighborhoods
- Three-in-four recent buyers bought a home that fits their needs
- Over half of recent buyers found homes suited for remote work
The past year has seen a noticeable seesaw in real estate activity, as markets traversed the challenges of the COVID pandemic. Housing started in 2020 with a significant shortage of new homes and an inventory of existing ones. As 4.7 million millennials turned 30 and embraced homeownership, the demand for homes was driving prices higher at a healthy clip. The mid-March 2020 quarantines put a stop to most transactions, leading to a sharp drop in activity until June. As the lockdowns were lifted, Americans reacted to the trifecta of social distancing, remote work, and dropping mortgage rates by rushing out of downtowns and into suburbs, as well as smaller cities and towns across the country. People focused on communities with a higher quality of life, larger homes, and a more affordable cost of living.
Read More
Jun
08
Originally published on May 26, 2021, by Redfin.
The Wave of Pandemic-Era Relocations Continued in April, With Nearly 31%
of Homebuyers Looking to Move to Another Metro
one part of the country to another is still well above pre-pandemic levels
SEATTLE, May 26, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Nationwide, 30.6% of Redfin.com users looked to move to a different metro area in April, down slightly from 31.5% in the first quarter but up from 26% at the same time last year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.
Read More
Jun
02
Originally published on March 11, 2021, by Janice McDill for Realtor.com.
Since the start of the pandemic home prices have risen 14.3%, new listings are 27% lower, there are 50% fewer homes on the market and homes are selling almost a week faster.
SANTA CLARA, Calif., March 11, 2021 /PRNewswire/ -- Although many people were forced to put activities on hold over the past year, buying a new home was not one of them. The U.S. housing market, buoyed by record-low interest rates, remote work, and Americans' desire for more space, outperformed much of the economy throughout 2020. Today, it remains more lopsided than ever as the gap between buyer demand and supply widens, according to a new report issued today by realtor.com® that examined COVID-19's impact on the U.S. housing market one year after the World Health Organization declared the virus a global pandemic.
Read More
May
27
Originally published on May 20, 2021 by Freddie Mac.
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.00 percent.
“After a run up over the first few months of the year, rates have paused and hovered around three percent since March,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite this favorable rate climate, there remains a shortage of homes for sale. The lack of housing supply has been compounded by labor disruptions and expensive building materials that are driving up the cost of new housing, making it difficult for homebuyers to find homes to purchase.”
Read More
Home Sales Expected to Surpass $2.5 Trillion this year; South is the Hottest Region: Redfin
Category: Industry
May
27
Originally published on May 11, 2021, for Redfin.
The value of properties sold is roughly equal to the GDP of France,
or the combined market value of Amazon and Facebook
SEATTLE, May 11, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin forecasts a record $2.53 trillion worth of home sales in America in 2021—a 17% year-over-year gain that would mark the largest annual increase in percentage terms since 2013. Redfin (www.redfin.com), the technology-powered real estate brokerage, made the prediction in a new report out today. To put $2.53 trillion into perspective, it's roughly equal to the value of Amazon.com Inc. and Facebook Inc. combined, or the 2020 gross domestic product (GDP) of France.
Read More
Mortgage Rates Drop, Down Nearly Quarter of a Percent Since April Peak: Freddie Mac
Category: Industry
May
20
Originally published on May 13, 2021 for Freddie Mac.
MCLEAN, Va., May 13, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.94 percent.
Read More
May
20
Originally published on May 7, 2021, by Quintin Simmons for the National Association of Realtors.
WASHINGTON (May 7, 2021) – The U.S. economy experienced one of the swiftest declines in history last year, followed by a quick and relatively significant recovery in the second quarter of 2020. Speakers at today's Commercial Economic Issues and Trends Forum, held as part of the 2021 REALTORS® Legislative Meetings & Trade Expo(link is external), discussed these historic shifts in the nation's economy over the past 12 months while projecting a favorable outlook for the commercial real estate market in the coming year.
Read More
May
12
Originally published on April 28, 2021, for NAHB.
Soaring lumber prices that have tripled over the past 12 months has caused the price of an average new single-family home to increase by $35,872, according to new analysis by the NAHB Economics team. This lumber price hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment. Further adding to affordability woes, building material prices have by and large been steadily rising since 2020 and were up across the board in March.
Read More
Urban Single-Family Homes Are Seeing the Fastest Price Growth as Buyers Return to City But Still Crave Space
Category: Industry
May
12
Originally published on April 27, 2021 by Isabelle Novak for Redfin
- As vaccines roll out, prices of spacious city dwellings are rising 20%
- The pandemic-driven bump in rural properties has peaked
- Urban condos are making a comeback with sales up nearly 30% year over year
SEATTLE, April 27, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Prices of urban single-family homes are rising nearly 20% year over year—faster than any other type of home—according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. But this year's hot housing market doesn't discriminate: Urban condo sales are up nearly 30% year over year, more than any other home type.
Read More
Home Prices at Record High, Time on Market at New Low: NARHome Prices at Record High, Time on Market at New Low: NAR
Category: Industry
May
04
Originally published on April 22, 2021. by Quintin Simmons for the National Association of Realtors.
WASHINGTON (April 22, 2021) – Existing-home sales fell in March, marking two consecutive months of declines, according to the National Association of Realtors®. The month of March saw record-high home prices and gains. While each of the four major U.S. regions experienced month-over-month drops, all four areas welcomed year-over-year gains in home sales.
Read More
May
04
Originally published on April 22, 2021, by ATTOM Staff for ATTOM Data Solutions Blog.
IRVINE, Calif. — Apr. 22, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters in the New York City, Chicago and southern Florida areas – while the West continued to face less risk.
Read More
May
04
Originally published on April 21, 2021, by Tom Acitelli for Commercial Observer.
Real estate investors looking for a safe place to park money coming out of COVID might consider the humble car wash. The sudsy byproduct of the automotive age has, in just a few short years, become an unusually durable commercial real estate asset.
Read More
Apr
21
Originally published on April 14, 2021, by Isabelle Novak for Redfin.
Redfin Survey: 1 in 5 Americans Believes Climate Change
Is Hurting Home Values In Their Area
SEATTLE, April 14, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — One in five Americans (21%) believes the increasing frequency or intensity of natural disasters, extreme temperatures and/or rising sea levels are hurting home values in their area, according to a new survey featured in a report from Redfin (redfin.com), the technology-powered real estate brokerage. A comparable share—23%—expect one or more of these factors to hurt local housing values in the next five years, and 12% think values will be negatively impacted in the next five to 10 years. Just over a third (35%) of Americans believe these factors will never diminish home values where they live.