With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down. Election Years Bring a Temporary Slowdown In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s…
Hotel investments account for 40 percent of all commercial transactions in Japan Global property consultant CBRE reported this week that Japan’s commercial real estate transaction volume for Q2 2024 decreased by 25% year-over-year to JPY 663.0 billion. Significant hotel transactions boosted the sector’s acquisition volume to JPY 280.0 billion, which is about 2.6 times the…
The Brickell area of downtown Miami’s office market has seen rental prices soar to new heights due to intense demand from blue-chip companies based in New York, Chicago, Los Angeles and Latin America seeking premium office locations, surpassing the available supply. Brazilian bank Banco Master has secured the final 26,000 square feet in the prestigious…
According to Redfin, the typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January 2024. Commissions have been gradually declining over the last few years, from an average of 2.89% in 2013 to 2.66% in 2023. But news…
Based on new data by the National Association of Realtors, pending U.S. home sales in June 2024 ascended 4.8%. All four U.S. regions posted monthly gains in transactions. Year-over-year, the Northeast, Midwest and South registered declines, while the West increased. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on…
Veteran media and technology entrepreneur Michael Gerrity announced this week that Miami will be the future headquarters of his new global real estate information services company startup in 2025 — WORLD PROPERTY MEDIA. WORLD PROPERTY MEDIA is the parent holding company for a portfolio of three globally emerging real estate information platforms (news, streaming and…
Seattle, Orlando and Anchorage top travel destinations in 2024 Based on recently released AAA projections, 70.9 million travelers will journey 50 miles or more from home over the Independence Day holiday period in 2024. This year’s projected number of travelers represents a 5% increase compared to 2023 and an 8% increase over 2019. “With summer…
According to the National Association of Realtors, U.S. Pending home sales in May slipped 2.1 percent. The Midwest and South posted monthly losses in transactions while the Northeast and West recorded gains. Year-over-year, all U.S. regions registered reductions. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings…
Based on Freddie Mac’s latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage averaged 6.86 percent as of June 27, 2024. Sam Khater “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in almost three months,” said Sam Khater, Freddie Mac’s Chief Economist. “By historical standards, the economy is in good…
A new report from CBRE reveals that ongoing power shortages are creating opportunities for development in emerging global data center markets and driving up rents in established markets worldwide. Companies aiming to secure data center capacity are increasingly investing in emerging markets like Northern Indiana, Boise (Idaho), Mumbai (India), Rio de Janeiro (Brazil), and Oslo…
According to CBRE, the hotel market in the Asia Pacific region is undergoing significant structural changes. Hotel owners and operators are adjusting their operational and branding strategies in response to increased labor and utility costs, limited new supply, and the extended peak of the interest rate cycle. Major global hotel operators are expanding rapidly in…
Many homebuyers today are not just shopping for a house; they’re shopping for a community that reflects their desired lifestyle. A PUD home, meaning a planned unit development property, offers shared amenities, such as a neighborhood clubhouse, swimming pool, parks, tennis or pickleball courts, and a gated entry. But a PUD property also offers something…