According to new data from the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending May 19, 2023, U.S. mortgage applications decreased 4.6 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.6 percent on a seasonally adjusted basis from one week earlier. On…
Most real estate agents in Texas get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales…
You’ve been searching online and found a few homes that meet your criteria of three bedrooms and two bathrooms. But as you read the listing descriptions that indicate one house is on 0.23 acres and another has a lot size of 8,730 square feet, you’re baffled by what these numbers actually represent. Your digital assistant…
According to national property broker Redfin, new listings of homes for sale fell 22.4% nationwide from a year earlier during the four weeks ending April 23, 2023, one of the biggest declines since the start of the pandemic. Homeowners are staying put because they want to hang onto their low mortgage rates–this week’s average 30-year…
Based on ATTOM’s newly released first-quarter 2023 U.S. Home Sales Report, profit margins on median-priced single-family home and condo sales across the United States decreased to 44.2 percent as home prices stayed flat or kept declining around most of the nation. The drop-off in typical profit margins, from 48.7 percent in the fourth quarter of…
According to the National Association of Realtors, pending home sales decreased in March 2023 for the first time since November 2022. Three U.S. regions posted monthly losses, while the South increased. All four regions saw year-over-year declines in home sales transactions. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based…
According to a new report from CBRE, lab vacancies increased across the top 13 U.S. life sciences markets in the first quarter of 2023, providing relief for companies that had found little available space in recent years. Average vacancy of 6.7% in the first quarter marked an increase of 170 basis points from a year…
According to HVS’ latest annual European Hotel Transaction Report, hotel transactions for 2022 totaled €13.3bn ($14.4bn USD), an 18% fall on the previous year as the impact of the Russian invasion of Ukraine, rising energy and food costs and high interest rates hit investor confidence. Portfolio sales dropped 25% on the previous year, with total…
According to a new report from CBRE, several metrics point to the U.S. life sciences industry and the real estate that houses it proving resilient during the current economic slowdown. Among those factors: a growing total of clinical trials for new drugs, persistent job growth, more federal funding, and ample cash reserves for the industry’s…
Based on ATTOM’s newly released first-quarter 2023 U.S. Home Affordability Report, median-priced single-family homes and condos are less affordable in the first quarter of 2023 compared to historical averages in 94 percent of counties across the nation with enough data to analyze – far above the 62 percent of counties that were historically less affordable…
According to Redfin, U.S. house hunters are beginning to wade into the market in bigger numbers as mortgage rates and home prices continue to decline in late March 2023. Mortgage-purchase applications increased for the fourth week in a row and Redfin’s Homebuyer Demand Index–a seasonally adjusted measure of requests to tour homes, make an offer…
Based on the Associated Builders and Contractors analysis of the U.S. Census Bureau’s latest national nonresidential construction data, spending increased 0.4% in February 2023. On a seasonally adjusted annualized basis, nonresidential spending totaled $982.2 billion for the month. Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending was…