Register now for next week’s Real Estate Valuation Conference! Industry experts from CBRE, NewRez, Flagship Healthcare Properties, and Lee & Associates will discuss the appraisal industry’s current market trends and critical focus areas in real estate valuation. View the full list of speakers and their session descriptions here.
Originally published on August 12, 2021, by Quintin Simmons for Mortgage Association of Realtors.
WASHINGTON (August 12, 2021) – Continued low levels of housing inventory, combined with record-low mortgage rates spurring housing demand, have caused an increase in median sales prices for existing single-family homes in all but one of 183 measured markets during the second quarter of 2021. That is according to the National Association of Realtors®' latest quarterly report, which reveals that 94% of 183 metro areas also experienced double-digit price increases (89% in the first quarter of 2021).
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 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 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 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.
NCAI's 2021 Real Estate Valuation Conference (REVC) will be held on September 2, 2021, held via Zoom. This year’s conference will spotlight the appraisal industry’s current critical focus areas in real estate valuation.
Originally published on June 16, 2021, by Michael Tucker for the Mortgage Bankers Association.
U.S. companies have scaled back their plans to make big cuts to their office portfolios and many now expect their offices to support “collaborative” work in person rather than remotely, said CBRE, Dallas.
Originally published on June 16, 2021, by Wesley Shaw for the National Association of Realtors.
Originally published on June 17, 2021, by Erin Osgood for Redfin.
SEATTLE, June 17, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — The national median home-sale price hit a record high of $377,200 in May, up a record 26% year over year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. The housing market also set new records for home-selling speeds and competition, but seasonally adjusted home sales and new listings flattened from April. Leading indicators of housing market activity are also declining into June, according to the latest weekly data, signalling that the pace of the market may be slowing.
Originally published on June 1, 2021, by the White House.
One hundred years ago, the thriving Black community of Greenwood in Tulsa, Oklahoma, known as “Black Wall Street,” was ruthlessly attacked by a violent white supremacist mob. An estimated 300 Black Americans were killed and another 10,000 were left destitute and homeless.
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.
Originally published on May 11, 2021, for Redfin.
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.
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.
