Filtered by category: Industry Clear Filter

Construction Costs to See Largest Gain in 15 Years: CBRE

Originally published on August 30, 2022 by Michael Tucker for the Mortgage Banker's Association.

CBRE, Dallas, said it expects U.S. construction costs to jump 14.1 percent year-over-year by year-end due to pressures including labor shortages, inflation, supply chain disruptions, pandemic reverberations, and the war in Ukraine.

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Office Sector Down, Not Out as Firms Seek Changes, Short Leases: Cushman & Wakefield

Originally published on August 30, 2022, by Michael Tucker for the Mortgage Banker's Association.

Office absorption remains negative even though office-using employment increased by 1.9% in the first half of the year, adding 635,000 jobs, reported Cushman & Wakefield, Chicago.

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Suburbs No Longer a Bargain With Rents at New High: Data  

Originally published on August 24, 2022, by Rachel Conner for the Realtor.com.

Driven by migration away from expensive city centers during the pandemic, the rental price advantage of living in the suburbs (vs. urban areas) has shrunk by 52.9% compared to three years ago, according to the Realtor.com® Monthly Rental Report released today. As the U.S. median rental price hit its latest all-time high in July ($1,879)a new survey from Avail (part of Realtor.com®)  found that moving to a new rental has been costlier for renters, but there may be market cooling on the horizon as landlords adjust to renter budgets impacted by inflation.

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Life Science Sector Positioned for Future Growth: Newmark  

Originally published on August 25, 2022, by Michael Tucker for Mortgage Banker's Association.

Despite the stock market turmoil, slowing venture capital funding and interest rate volatility, life science real estate remains well-positioned for future growth, said Newmark, New York.

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Economic Concerns, Housing Shortage Stressing Low-income Households: ULI

Originally published on August 17, 2022, by the Urban Land Institute.

A long-term trend of housing underproduction exacerbated by rising inflation and economic uncertainty threatens home attainability for millions of people across the United States, according to the 2022 Home Attainability Index, a comprehensive new study from the Urban Land Institute’s (ULI) Terwilliger Center for Housing.

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Nearly 63,000 Home Purchase Agreements Canceled in July: Redfin Data Reveals

Originally published on August 16, 2022, by Ally Braun for Redfin.

Nationwide, roughly 63,000 home-purchase agreements fell through in July, equal to 16.1% of homes that went under contract that month, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the highest percentage on record with the exception of March and April 2020, when the onset of the coronavirus pandemic brought the housing market to a near standstill. It’s up from a revised rate of 15% one month earlier and 12.5% one year earlier.

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Hotel Construction Slows for 7th Consecutive Month, But Room Planning is Up: Data

Originally published on August 14, 2022, by Michael Tucker for the Mortgage Bankers Association.

U.S. hotel construction has declined for seven consecutive months, reported STR, Hendersonville, Tenn.

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Industrial Sector Slowing to Pre-pandemic Levels: NAIOP

Originally published on August 16, 2022, for NAIOP.

The industrial real estate market showed signs of slowing after an unprecedented expansion, according to the latest NAIOP Industrial Space Demand Forecast, released today.

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Investment in CRE Up 10% Through Q2; Greater New York, Los Angeles Top Cities: CBRE  

Originally published on August 10, 2022 by Gail Kalinoski for CommercialSearch.com.

U.S. commercial real estate investment volume rose 10 percent year-over-year in the second quarter of 2022, to $167 billion, with industrial and logistics investments providing nearly $32 billion of the total and office $24 billion, according to a recent CBRE report. Trailing four-quarter volume totaled a record $881 billion.

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Foreclosure Filings Down 4% in July, but Annual Totals Show Dramatic Increase: ATTOM

Originally published on August 9, 2022, by the ATTOM Staff for ATTOM.

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its July 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,358 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 4 percent from a month ago but up 143 percent from a year ago.

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The South Boasts Most Affordable Beach Towns, Data Shows

Originally published on August 4, 2022, by Eliza Theiss for Property Shark.

With summer in full swing and scorching temperatures driving city dwellers to try to escape urban heat islands, we analyzed home prices in towns and cities with beaches to see which are the most affordable options for homebuyers looking to move or buy a second home. More precisely, we ranked towns by the local median price per square foot to avoid results being skewed by larger local median home sizes.

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Top Issues Driving or Dragging Commercial Real Estate This Year, LaSalle Reports 

Originally published on August 3, 2022, by Paul Bergeron for GlobeSt.com.

LaSalle is expecting a high-impact second half of 2022, according to its Mid-Year Update. 

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Multifamily Positioned Well for Remainder of the Year, Freddie Mac Forecasts 

Originally published on August 2, 2022, by Freddie Mac.

The economy has entered a turbulent time as interest rates have moved up and inflation is very real for consumers. The likelihood of recession is much higher than earlier this year according to most macroeconomic forecasters, and the sharp rise in interest rates has already impacted volume as borrowers and investors may have sidelined deals until the volatility levels out. Despite the increased uncertainty, the multifamily industry is positioned well and we forecast solid performance for the year. 

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US Needs 4 Million More Apartments by 2035, Research Shows

Originally published on August 3, 2022, by the National Multifamily Housing Council.

Nearly 4.3 million new apartments will be needed across the U.S. by 2035 to meet housing demand, according to research released July 28 by the National Multifamily Housing Council and the National Apartment Association. Currently, there is a shortage of around 600,000 units, and the number of affordable apartments — those with rents less than $1,000 per month — has declined by 4.7 million between 2015-20.

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Student Housing Continues to Break Records: Yardi Matrix 

Originally published on July 27, 2022 by Yardi Matrix.

The student housing industry continued to break records in the second quarter of 2022, according to the new quarterly National Student Housing Report from Yardi® Matrix.

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Retail Real Estate Thrives as Store Closures Drop 58% This Year, Data Shows

Originally published on July 19, 2022, by Buck Wargo for WealthManagement.com.

Strong consumer spending over the past year has prompted retailers to open more stores than they closed. But concerns about rising inflation and the economy this summer have led some to hit the pause button on expansion for now, according to retail analysts.

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Charlotte, North Carolina, Nation’s Top Office Market; Boston, Miami also Strong: Data

Originally published on July 22, 2022, by Lynn Pollack for Globest.com.

The average US office listing rate hit $37.58 in June, falling 2.6% year-over-year, while the national vacancy rate ticked up 20 basis points over the same period to 15.2, according to CommercialEdge. 

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Housing Markets to See Minimal Changes as Boomers Age Out of Their Homes: MBA

Originally published on July 20, 2022, by Gary Engelhardt for the Research Institute for Housing America.

Around 4 million existing homes will hit the market over the next decade as older generations age out of their homes, according to the report, “Who Will Buy the Baby Boomers’ Homes When They Leave Them” released in July by the Mortgage Bankers Association. However, the inventory increase is expected to have minimal effect on housing supply and no measurable reduction in home prices.

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Commercial Real Estate Prices Grow, Led by Industrial and Multifamily Properties

Originally published on July 7, 2022, by Michael Tucker for Mortgage Banker's Association.

Real Capital Analytics, New York, reported U.S. commercial property price growth held steady in May, supported by price gains in the industrial and apartment sectors.

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Mortgage Rates Fall Amid Recession Concerns, Freddie Mac Reports

Originally published on July 7, 2022, by Angela Waugaman for FreddieMac.

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 5.30 percent.

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