Category Archives: Uncategorized

U.S. Housing Market Stalls as Mortgage Rates Edge Up Again

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,…

Foreclosure Rates in U.S. Remained Near Record Lows in 2022

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…

U.S. Commercial Property Investment Implodes 63 Percent Annually in Q4

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…

U.S. Home Price Growth Further Cooled in December

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…

Finance Industry Supplants Tech in Top 100 Largest U.S. Office Leases in 2022

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…

Global Residential Rents Continue to Climb Despite Worldwide Economic Uncertainties

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…

Luxury Home Sales in U.S. Experience Biggest Decline in a Decade

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.…

Market Demand for Architectural Design Services Continue to Slow in the U.S.

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…

Should I Sell My Current House Before I Buy a New One?

Timing is critical in all things, but it can be especially challenging when it comes to real estate. Deciding whether to sell your home before buying a new one is a difficult decision. It could land you in temporary housing if you haven’t found a house to buy. That means two moves, which is nobody’s…

How Can I Get An Instant Offer On My Home?

There have never been as many options to sell a home as there are today. In any major city, advertisements for instant cash offers abound on billboards, as you scroll through social media, and even stapled to telephone poles on street corners. According to the National Association of Realtors®, Cash sales rose from 16% in…