Originally published by Jacob Channel for Lending Tree on December 4, 2023.
Though home prices have come down in some areas, they remain steep across the U.S.
Originally published by Jacob Channel for Lending Tree on December 4, 2023.
Though home prices have come down in some areas, they remain steep across the U.S.
Originally published on December 13, 2023, by Isabelle Novak for Redfin.
The median U.S. asking rent declined 2.1% year over year in November to $1,967—the biggest annual drop since February 2020—according to a report from Redfin (redfin.com), the technology-powered real estate brokerage. This is a 0.6% decline in asking rents since October.
Originally published on December 12, 2023, by CBRE.
Economic growth is expected to slow in 2024 and real estate transaction values should decline further, which could create compelling buying opportunities, although lending is expected to remain tight, CBRE reported Dec. 14 in its 2024 U.S. Real Estate Outlook. However, the firm also reported that it expects commercial real estate values to rebound during the second half of the year.
Originally published on December 5, 2023, by Representative Adam Smith (D-Wash.) and Senator Jeff Merkley (D-Ore.)
WASHINGTON, D.C. – Representative Adam Smith (D-Wash.) and Senator Jeff Merkley (D-Ore.) teamed up to introduce the bicameral End Hedge Fund Control of American Homes Act of 2023. This legislation responds directly and forcefully to a persistent and growing problem — What Happens When Wall Street Buys Most of the Homes on Your Block? The purchasing of single-family homes by hedge funds, especially in the current housing market, has made it more difficult for middle-class Americans to become homeowners and is contributing to America’s twin crises of housing unaffordability and wealth inequality.
“In 1971, my father was able to buy the house I grew up in for $15,000 on the salary he earned as a baggage handler at SeaTac Airport. That same house would cost nearly $500,000 today yet wages for workers like my father have not kept up. Too many families in the Puget Sound region and across the country are struggling to afford to rent or buy a home. This crisis has been exacerbated in recent years by an increasing number of large investors purchasing a significant percentage of single-family homes, squeezing out prospective buyers,” said Rep. Adam Smith (D-Wash.). “Congress must take action to crack down on corporate greed and get hedge funds out of the single-family home market. The bill I’m introducing today with my colleagues would ban these problematic hedge funds from the single-family housing market and claw back some of the homes they already own so that more American families have a fair shot at becoming homeowners.”
“The housing in our neighborhoods should be homes for people, not profit centers for Wall Street. Yet, in every corner of the country, giant financial corporations are buying up housing and driving up both rents and home prices,” said Senator Merkley. “It’s time for Congress to put in place commonsense guardrails that ensure all families have a fair chance to buy or rent a decent home in their community at a price they can afford.”
Originally published in December 2023, by the Appraisal Institute.
Originally published on November 14, 2023, by the ATTOM Team.
ATTOM, a leading curator of land, property, and real estate data, today released its October 2023 U.S. Foreclosure Market Report, which shows there were a total of 34,472 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 6 percent from a month ago but up 6 percent from a year ago.
Originally published on November 21, 2023, by the Economy Team at CoreLogic.
CoreLogic®, a leading global property information, analytics, and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas.
Originally published on November 22, 2023, by Erik Sherman for GlobeSt.com.
Office valuations and rents have been hit hard by changing conditions of work and how companies are being forced to manage their real estate. But what’s happening with tech office use, particularly in the wake of the Biden administration's tech hubs strategy?
Originally published on November 7, 2023 by Matt Wirz for the Wall Street Journal.
U.S. banks have found a new way to unload risk as they scramble to adapt to tighter regulations and rising interest rates.
Originally published on November 8, 2023, by Zachariah Demuth, Jessica Jahns, Marina Bracciani and Ophelia Makis for JLL.
Originally published on October 31, 2023, by Ella Fertitta for ULI Americas.
The Urban Land Institute (ULI) and PwC US today released Emerging Trends in Real Estate® 2024, the annual industry-leading report unveiling critical data and trends in the real estate sector. In its 45th edition, the report’s overarching theme is “The Great Reset,” determining that the industry must form new ‘norms’ and can no longer rely on past benchmarks to determine how the market will function in the future.
Originally published on October 30, 2023, by Nicole Bachaud for ZIllow.com.
The cost of buying a home has soared over the past few years with home values near record highs and mortgage rates higher than they’ve been in 20 years. New home buyers can expect to spend approximately 13.5 years in their house before they would be able to sell at a profit over the purchase, mortgage interest, and sale costs that went into the home.
Originally published on October 25, 2023, by Elizabeth Thompson for the National Association of Home Builders.
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market.
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VeroFORECASTSANTA ANA, Calif., Oct. 5, 2023 —Veros Real Estate Solutions (Veros®), an industry leader in enterprise risk management and collateral valuation services, released its 2023 Q3 VeroFORECASTSM that anticipates that home prices are expected to increase on average 2.2% over the next 12 months, compared to last quarter’s forecast of 1.7% increase, indicative of a steady market.
Originally published on October 12, 2023, by Andrea Nicole for RentCafe.com.
U.S. cities are buzzing with new apartment buildings — more than we’ve seen in decades. So, if you’ve noticed more cranes against your city’s skyline recently, you’re not alone. In fact, this boom is turning certain neighborhoods into hotspots for new apartments, attracting mostly young, high-earning folks chasing the dream of urban apartment living.
Originally published on September 29, 2023 by Richard Berger for GlobeSt.com.
“Gangbusters” is what CBRE’s Vice Chairman Aron Will says the seniors housing mergers and acquisitions market will look like in the next 18 months.
Originally published on October 5, 2023, by Anneliese Mahoney by the Mortgage Bankers Association.
CBRE, Dallas, found nearly 100 office-conversion projects are slated to be completed in major U.S. cities this year. That’s more than double the average of 41 per year from 2016 to 2022.
Originally published on October 4, 2023, by CoreLogic.
Originally published on September 28, 2023, by Kenneth Applewhaite for Redfin.
Nearly one-third (32%) of Black Americans who recently moved believe they were discriminated against based on their ethnicity or race during their home search, and an additional 22% believe they may have been discriminated against. That’s according to a survey from Redfin (redfin.com), the technology-powered real estate brokerage. The share is even higher for Hispanic Americans: 36% experienced discrimination and an additional 22% believe they may have been discriminated against.