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…
Measurabl, the world’s most widely adopted ESG data platform for real estate, is pleased to announce it has been selected for the fifth conservative time as a 2023 ENERGY STAR Partner of the Year winner for Sustained Excellence. The company is the EPA’s #1 ranked service provider by ENERGY STAR certifications achieved by its customers.…
National property broker Redfin is reporting this week that many U.S. homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7 percent. Redfin’s Homebuyer Demand Index — a measure of requests for tours and other services from Redfin agents–fell 1% from a week ago, the first decline after a month of increases,…
Home Sales Are Bottoming Out, Says NAR According to the National Association of Realtors, existing U.S. home sales fell for the twelfth straight month in January 2023. Month-over-month sales were mixed among the four major U.S. regions, as the South and West registered increases, while the East and Midwest experienced declines. All regions recorded year-over-year…
According to CoreLogic’s monthly Loan Performance Insights Report for December 2022, 3% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.4 percentage point decrease compared with 3.4% recorded in December 2021 and less than a 0.1 percentage point increase…
CBRE is reporting this week that U.S. commercial real estate investment volume fell by 63% year-over-year in Q4 2022 to $128 billion. For the year, volume fell by 17% to $671 billion from 2021’s record level but was the second highest on record. Multifamily was the leading sector with $48 billion in Q4 volume, followed…
Based on CoreLogic’s latest CoreLogic Home Price Index for December 2022, the effect of rising mortgage rates on U.S. housing demand in 2022 became even more evident in December, with annual home price growth dipping to 6.9%, down from a series high of 20% appreciation in April. Only nine states registered double-digit year-over-year price increases…
According to a new report from CBRE, the finance and insurance industry supplanted the tech industry last year for the largest share of the top 100 office leases in the U.S. Finance and insurance companies claimed 25 of the largest 100 office leases of 2022 by square footage, up from 12 in 2021. Tech companies…
Investment in 2022 reached $129 billion as interest rate hikes weighed on market sentiments According to data by global real estate consultant JLL, commercial real estate investment in Asia Pacific in 2022 declined by 27% year-on-year as a tightening interest rate cycle and global macroeconomic uncertainties influenced decision-making. Direct investment in Asia Pacific commercial real…