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…
According to global property consultant CBRE, U.S. multifamily investment volume in 2022 decreased by 19% year-over-year to $278.8 billion but was the second largest annual total on record. Volume in Q4 fell by 34% quarter-over-quarter and 70% year-over-year to $48 billion. CBRE further reports new construction deliveries of 100,300 units in Q4 brought the total…
Luxury sales sink 38% in November, biggest decline on Record According to national property broker Redfin, sales of luxury U.S. homes fell 38.1% year over year during the three months ending November 2022, the biggest decline on record. That outpaced the record 31.4% decline in sales of non-luxury homes. Redfin’s data goes back to 2012.…
According to a new report from the American Institute of Architects, demand for design services from architecture firms continued to decrease in November 2022. The pace of decline during November accelerated from October, posting an Architecture Billings Index (ABI) score of 46.6 from 47.7 (any score below 50 indicates a decline in firm billings). The…
New York City, Singapore and London top the list of global cities rent price growth in 2022 According to international property consultant Knight Frank, prime residential rents continue to rise but the rate of growth is slowing. Across ten global cities luxury rents increased 10.2% on average in the 12 months to Q3 2022, down…
In comparison to November 2021, Palm Beach County November 2022 residential sales decreased 41.1% year-over-year, from 2,793 to 1,646, because of high mortgage rates and low inventory, says the Miami Association of Realtors. Single-family home sales decreased 38.8% year-over-year, from 1,491 in record-breaking November 2021 to 920 in November 2022, due to lack of inventory…