Author Archives: thepierrottgroup

Commercial Property Transactions in Japan Dive 25 Percent Annually in Q2

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…

U.S. Home Price Appreciation Accelerated in February

Marking 8 consecutive months of growth says CoreLogic’s S&P Case-Shiller Index Like many economic metrics, the journey toward stabilizing the U.S. housing market is fraught with challenges. Although there has been a modest recovery in home sales and inventories from last year’s lows, elevated mortgage rates continue to hamper affordability, deterring many potential buyers. Despite…

Residential Rents in U.S. Decline for Eighth Consecutive Month in March

According to the latest U.S. Rental Report from Realtor.com, residential rents in March 2024 continued to fall for the eighth month in a row, with a year-over-year decrease of 0.3% across various unit sizes. Despite this trend, the median rent stood at $1,722, just $36 below its peak in August 2022, yet $313 higher than…

In Today’s Economy, 58 Percent of U.S. Homeowners Can’t Afford to Buy Their Current Home

Around 40 percent of U.S. renters also believe homeownership is out of reach According to a recent survey by national property broker Redfin, almost 58% of U.S. homeowners feel they probably couldn’t afford to repurchase their current homes at today’s prices and mortgage rates. This insight comes from a survey carried out in February 2024…

Commercial Mortgage Lending in U.S. Shows Signs of Stabilization in Late 2023

According to new data from CBRE, commercial real estate lending in the U.S. demonstrated signs of stabilization at the end of 2023, with borrowing costs appearing to have peaked, even as transaction activity remains subdued. The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the U.S., increased by 1.0% from…

World Property Ventures Core Mission: Create Significant Shareholder Value Through Digital Disruption

(Miami, Fl and Irvine, Ca) Newly formed World Property Ventures was created with one purpose in mind: “Build better mouse traps for the global real estate industry”, says company founder and CEO Michael Gerrity. Michael Gerrity To that end, Gerrity points out the global property industry is a massive $300+ trillion-dollar addressable marketplace that at…

Architecture Billings Decline in December as Soft Business Conditions Persist

According to the American Institute of Architects latest AIA/Deltek Architecture Billings Index, the ABI remained below 50 for December 2023, indicating soft business conditions in the U.S. to close out 2023. The score of 45.4 remained essentially flat from November 2023. Any score below 50.0 indicates decreasing business conditions but there are encouraging signs of…

How to Break Up with Realtor from 1st house purchase

We are getting ready to list our house and search for a new home. The buyers agent I used to buy our first house has kept in touch over the years (it’s been almost 5) with cards, events, newsletters, etc. We have mutual acquaintances but we are not friends, just a professional relationship. I’m thinking…

Market Statistics September 2023

Tourist Bookings to Hawaii Down 50 Percent Since Maui Wildfires

According to AAA, two months following the devastating wildfires in Maui, most of West Maui will begin to reopen to visitors on Sunday, October 8, 2023. The tragic wildfires killed 97 people and destroyed much of the historic town of Lahaina. The loss of life, property, cultural and historic sights, and livelihoods has led to…