Filtered by category: Industry Clear Filter

Surge in Multifamily Construction to Create Short-term Oversupply: CBRE

Originally published on March 9, 2023 by Michael Tucker for the Mortgage Banker's Association.

CBRE, Dallas, said delivery of a near-record 716,000 new multifamily units over the next two years will create a short-term oversupply, but noted the new supply will keep long-term fundamentals healthy.

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Available Housing Inventory, Home Prices Continue to Rise: Realtor.com

Originally published March 2, 2023, by Sara Wiskerchen for Realtor.com.

 

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Top 10 U.S. Counties with Most Foreclosure Starts in January 2023

Originally published by  on February 10, 2023 for ATTOM.

According to ATTOM’s just released January 2023 U.S. Foreclosure Market Report, there were a total of 31,557 U.S. properties with foreclosure filings in January 2023. That figure was up 36 percent from a year ago and up 2 percent from the prior month.

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Strong Demand Anticipated for Outpatient Healthcare Facilities, According to JLL  

Originally published on  b

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Price Gap Between Most and Least Expensive Homes is Shrinking, Data Shows

Originally published on February 16, 2023 by Thomas Malone for CoreLogic.

Quick Takes:

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Millennials Make Up Majority of Potential Homebuyers in Nation’s Largest Metros: Data

Originally published by Jacob Channel on February 6,2023 for LendingTree.

Though it may sometimes seem as if millennials are destined to rent or live in their parent’s basements forever, they make up the largest share of homebuyers in the U.S., surpassing older (and richer) generations. In fact, millennials have dominated the housing market for the past decade.

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MISMO Seeks Professionals for Workgroup on Appraisal, Other Standards

Originally published by Caitlin Groves on February 8, 2023 for MBA Newslink.

MISMO®, the real estate finance industry standards organization, issued a call for industry professionals to join a new Development Workgroup focused on developing APIs for MISMO’s Commercial datasets.

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Home Prices on the Rise in 9 out of 10 Metros, According to NAR

Originally published on February 9, 2023 by Troy Green for the National Association of Realtors.

Approximately nine out of 10 metro markets registered home price gains in the fourth quarter of 2022 despite mortgage rates eclipsing 7%, according to the National Association of Realtors®’ latest quarterly report. Eighteen percent of the 186 tracked metro areas registered double-digit price increases over the same time period, down from 46% in the third quarter of 2022.

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Multifamily Starts to Drop Nearly 30% as Sector Faces Headwinds: NAHB 

Originally published on January 31, 2023, by Stephanie Pagan for the National Association of Home Builders.

 

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CRE Small-cap Equity Market Ends Year with Slight Increase: Boxwood Means

Originally published on January 15, 2023 by Randy Fuchs for Boxwood Means.

The total market dollar value of small-cap CRE rose marginally in 2022 headlined by a shift in opportunity and risk for investors and lenders. Though the market’s total equity valuation in December testifies to this domain’s inherent resilience, sinking deal volume, decelerating prices and rising cap rates over the second half of the year curbed the market’s considerable expansion following the Covid-19 pandemic.

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Renting Generally More Affordable than Buying, According to New Report 

Originally published by Christine Stricker on January 20, 2023 for ATTOM.

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Student Housing Excels for Another Year: Yardi Matrix

Originally published on January 18, 2023, by Yardi Matrix.

The student housing industry is set up for another solid performance in 2023 after record returns last year, according to the latest National Student Housing Report from Yardi® Matrix.

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Apartment Demand Negative for the First Time Since ’09: Data

Originally published on January 17, 2023, by Michael Tucker for the Mortgage Banker's Association.

RealPage, Richardson, Texas, said net demand for apartments finished 2022 in negative territory for the first time in years.

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Fannie Mae Report Addresses How the Pandemic Affected Housing Decisions

Originally published on January 11, 2023, by Li-Ning Huang and Mark Palim for Fannie Mae.

In recent discussions of our economic outlook, we have been asked multiple times why home sales dropped so sharply this past year given a pronounced preference shift among consumers during the pandemic toward single-family housing. Indeed, single-family housing was an unintended beneficiary of the pandemic and its associated policy response. During the pandemic, mortgage rates reached historically low levels, with the average 30-year fixed mortgage rate hovering around 3 percent through the end of 2021. Despite a low inventory-to-sales ratio during this time period by historical standards, as well as rising home prices, both home sales and purchase mortgage originations reached record highs in 2021.1 Anecdotal and analytical evidence suggest that the pandemic prompted people to move from smaller housing units in high-density city centers to larger homes in lower-density areas; and this was particularly true of first-time homebuyers.2 Overall, the rise in home sales was fueled by both first-time homebuyers and move-up buyers. In fact, demand was so strong that the median number of days that homes were on the market shortened from 74 in 2017 to 46 in 2021.

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Reversing a Trend, Master-planned Communities See Softening Demand, Data Shows

Originally published on Janaury 10, 2023 by Michael Tucker for the Mortgage Banker's Association.

RCLCO, Bethesda, Md., reported master-planned communities–just like the broader U.S. housing market–saw a decline in home sales last year compared to 2021.

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Grocery Sector Continues to Thrive, Gains Shoppers Despite Challenges, Data Shows  

Originally published on January 10, 2023, by Michael Tucker for the Mortgage Banker's Association.

The grocery sector continues to show impressive resilience despite inflation, supply-chain issues and labor shortages, reported Placer.ai, Los Altos, Calif.

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Demand for Farmland Results in Record-breaking Sales, Land Values, Report Shows

Originally published in Janaury 2023 by the Farmers National Company.

Demand for farmland has resulted in both record sales and land values, which are up 20-34% year-over-year, according to a Kansas City Federal Reserve report, Farmers National Company reported Jan. 6. Sales volume totaled $766 million in 2022, beating the record $750 million set in 2021. The outlook for 2023 shows continued strong sales.

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New Home Construction on the Decline as Conditions Worsen, NAHB Reports

Originally published on December 6, 2022, by Stephanie Pagan and Elizabeth Thompson for the National Association of Home Builders.

The big jump in single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas has shown a marked decline over the past 12 months, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the third quarter of 2022.

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Adaptive-reuse Apartments up 25%, Office-to-apartment Conversions at New High: Data 

Originally published on December 8, 2022, by Andrea Neculae for RentCafe.com.

So, to fully grasp how much adaptive reuse had grown in recent years, we compared the latest figures to the rate of growth in traditional new apartment construction. Our analysis shows that adaptive reuse apartments were growing faster than new apartments — 25% versus 10% — during the same timeframe.

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Fed Beige Book Shows Softening Housing, Commercial Activity

Originally published on November 30, 2022, by the Board of Governors of the Federal Reserve System.

Residential sales fell during the past month amid high interest rates, dropping moderately in some parts of the country but much more steeply in others, the Federal Reserve reported Nov. 30 in its latest Beige Book. Commercial sales and leasing have also softened, and vacancies continue to climb.

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