Originally published on August 10, 2021 by Michael Tucker for Mortgage Banker's Association.
Moody’s Analytics REIS, New York, reported commercial real estate completions fell in the second quarter from an already record low first quarter.
Register now for this year’s virtual REVC which features industry leaders who will highlight market trends and valuation issues in a variety of sectors including commercial, retail, residential, office, industrial, healthcare, finance, hospitality, and more!
You won't want to miss hearing from speakers Arpit Shah, CBRE; Adam Johnston, Genworth Financial; Gerald Quattlebaum, Flagship Healthcare Properties; and Christina Coffey, Lee & Associates who will be discussing the hospitality, finance, healthcare, and retail sectors. View the full list of speakers and their session descriptions (including AM sessions) here.
With great sadness, we report the passing of Norman William Burgess II, husband of NCAI Past President & member Susan M. King, MAI, SRA.
The family will receive friends for a "Celebration of Life at the House that Norm Built" on Saturday afternoon, August 14, 2021, from 3:00 pm to 5:00 pm, 3275 Nottingham Road, Winston-Salem, NC (near Forsyth CC). There will be a private Graveside Service for the family only and the interment will be at Forsyth Memorial Park, Winston-Salem, NC.
Originally published on July 12, 2021, by Michael Tucker for MBANewslink.
Consumer retail spending now exceeds pre-COVID levels; investor confidence in retail real estate is also growing, reported JLL, Chicago.
The retail sector–especially non-essentials goods and services–was among the hardest-hit CRE sectors early in the pandemic, but as vaccinations increase and restrictions ease, investor interest is nearly back to pre-pandemic levels. The sector captured an 11-percent share of transaction volume year-to-date in 2021, nearly where it was before the 2020 lockdowns.
“Consumer shopping patterns have bounced back due to pent-up demand over the past 12 months,” said Danny Finkle, JLL Senior Managing Director. “People are spending money across the spectrum of retail locations.”
Finkle noted this increased spending goes “hand-in-hand” with investor sentiment, “so as consumers spend more on food and beverage, apparel and other non-essentials and spend time in malls, departments stores and lifestyle centers, capital will follow,” he said.
Originally published on July 12, 2021 by The Economic & Housing Research Group for Freddie Mac.
As we noted in a previous report, there was an observed shift of home purchases in the last decade, even before the onset of COVID-19, from urban areas to suburbs and rural towns. We went on to link several possible socioeconomic factors driving the ongoing trend of household migration away from urban areas. The present study extends those findings using MLS data collected from January 2000 to May 2021 to address additional changes taking place pre- and post-COVID in the residential environmental preferences of households. While the rising trend of suburbanization and movement to rural areas still holds true, the new data also refutes the notion that urban revival is over—at least not in all cities—by illustrating the heterogeneity of the U.S. housing market across its regions.
Originally published on July 15, 2021 by Michael Tucker for Mortgage Bankers Association.
CRE executives’ market sentiment has improved dramatically from a year ago, reported RCLCO, Washington, D.C.
Originally published on July 14, 2021, for BloombergNews.
Federal Reserve Chair Jerome Powell said it was still too soon to scale back the central bank’s aggressive support for the U.S. economy, while acknowledging that inflation has risen faster than expected.
Originally published midyear 2021 by Marcus & Millichap.
Broader recovery fortifies a positive outlook. Resilient during the health crisis, the medical office segment is in a position of strength. Demographic trends and an anticipated boost in health services are positioned to foster long-term tenant demand that will bolster investor confidence in the sector. Shorter-term, the full-scale reopening of most states’ economies and widespread vaccination efforts have laid the foundation for a broad economic recovery that will fuel continued employment growth in the second half of this year. The expiration of enhanced unemployment benefits in September and many states’ plans to terminate the allowance prior to the deadline have the potential to motivate more individuals to obtain work. Furthermore, the reopening of schools this fall should further aid employers when filling open positions during the final third of the year. The resulting employment growth will raise the number of commercially insured households, lifting health spending and the number of medical visits. Together these factors will fuel health-related hiring and supplement demand for medical office space.
Originally published on July, 2021, by Brian Fluhr for Veros.com.
Today Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, released its Q2 2021 VeroFORECASTSM data that anticipates home prices will continue to appreciate at high levels during the next 12 months in the 100 most-populated markets at a rate consistent with our previous update one quarter ago. Veros is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, social, and geographic variables as they pertain to home value. This data-driven approach indicates that many of the top-performing cities are trending upwards at a double-digit rate.
Originally published on July 6, 2021 by Beth Mattson-Teig for WealthManagement.com.
Although the pandemic caused tenants in other real estate sectors to hit the brakes on a new leasing, that was not the case in industrial. The industrial market saw a robust year of leasing activity in 2020 that has carried over into 2021. According to Cushman & Wakefield, net absorption for 2020 reached 268.4 million sq. ft., surpassing the 240.9 million sq. ft. reported at year-end 2019 by 11.4 percent. Demand roared into the first quarter with 82.3 million sq. ft. of net absorption—a record high for the first quarter. Cushman & Wakefield also reported a healthy national average vacancy rate of 4.9 percent and annual rent growth of 7.8 percent.
Originally published on July 6, 2021, for the Mortgage Bankers Association.
The Consumer Financial Protection Bureau this week issued a report highlighting legal violations identified by the Bureau’s examinations in 2020. The report also highlights prior CFPB supervisory findings that led to public enforcement actions in 2020 resulting in more than $124 million in consumer remediation and civil money penalties.
Join NCAI’s Metrolina Branch Chapter this Friday for a volunteer event with Crisis Assistance Ministry. Help give back to the Charlotte community by volunteering to help sort clothes and donated household items for families in need. Volunteers need to be age 11 and over. This event will require standing. Please wear comfortable, closed-toe shoes and dress appropriately for a warehouse environment.
Send RSVPs to Ashley Cooper, MAI, MSRE, CPM.Originally published on July 1, 2021, for Freddie Mac.
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 2.98 percent.
Originally published on June 30, 2021 for Freddie Mac.
A new white paper pdf from Freddie Mac (OTCQB: FMCC) Multifamily studies the impact of the end of eviction moratoriums and role of rental assistance as the nation recovers from the economic impact of COVID-19. As eviction moratoriums and renter protections lapse, Freddie Mac is encouraging renters and property owners to proactively understand and seek available rental assistance to help mitigate the remaining economic challenges as the country emerges from the pandemic.
Originally published on June 30, 2021, for the Federal Housing Finance Agency.
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released a set of new and expanded statistical products from the National Mortgage Database (NMDB®). FHFA expanded the national statistics for new residential mortgage originations to include monthly, quarterly, and annual series for home purchase and refinance mortgages in all major market segments. FHFA also added a new series of national and state-level statistics for outstanding residential mortgages and an expanded series of national mortgage performance statistics for different market segments.
Originally published on June 23, 2021, by Jessica Gresko for APNews.com.
WASHINGTON (AP) — The Supreme Court on Wednesday gave the president greater power to fire the head of the agency that oversees mortgage giants Fannie Mae and Freddie Mac, ruling that the agency’s structure violates the separation of powers principles in the Constitution.
Originally published on June 23, 2021, by Jessica Gresko for APNews.com.
WASHINGTON (AP) — The Supreme Court on Wednesday gave the president greater power to fire the head of the agency that oversees mortgage giants Fannie Mae and Freddie Mac, ruling that the agency’s structure violates the separation of powers principles in the Constitution.
Originally published on June 24, 2021, by Rebecca Hersher for NPR.org.
More than half of the buildings in the contiguous U.S. are in disaster hotspots, a new study finds. Tens of millions of homes, businesses and other buildings are concentrated in areas with the most risk from hurricanes, floods, wildfires, tornadoes and earthquakes.
