Based on Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 7.09 percent, reaching its highest level in over twenty years in mid-August. “The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb,” said Sam Khater, Freddie Mac’s Chief Economist. “The…
According to new CBRE data, Brisbane has emerged as an Asia Pacific leader in the office leasing stakes, ranking second only to Seoul when it comes to growth in the city’s tenancy base over the past 18 months. In a new report, CBRE highlights that a robust return to the office coupled with a solid…
Based on new data by global property consultant Knight Frank, surging inflation and constant mortgage rate hikes in 2023 have hobbled many mainstream property markets, worldwide. While many property markets have borne the brunt of this pain, property sales volumes, not home prices, have been the greatest casualty to date. Knight Frank also states that…
Based on Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.32 percent in late March 2023. “Economic uncertainty continues to bring mortgage rates down,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last several weeks, declining rates have brought borrowers back to the market but, as the spring homebuying…
According to the National Association of Home Builders, U.S. taxpayers are taking advantage of new home energy-efficiency related tax credits. A recent Internal Revenue Service data analysis by NAHB indicates that more than 800,000 taxpayers claimed a new home-related energy-efficiency tax incentive. “Builders have found that buyers are seeking out new homes with durable…
Based on ATTOM’s 2022 property tax analysis for 87 million U.S. single family homes, $339.8 billion in property taxes were levied on single-family homes in 2022, up 3.6 percent from $328 billion in 2021. The increase was more than double the 1.6 percent growth in 2021, although smaller than the 5.4 percent increase the prior…
According to a new report from CBRE, several metrics point to the U.S. life sciences industry and the real estate that houses it proving resilient during the current economic slowdown. Among those factors: a growing total of clinical trials for new drugs, persistent job growth, more federal funding, and ample cash reserves for the industry’s…
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…
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…
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…