Real Estate News

Pending Home Sales Jump 7.5% in October

Mon, 29 Nov 2021 14:25:44 +0000

Pending home sales activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as the Northeast and West reported drops and the Midwest and the South posted gains.

https://www.nar.realtor/newsroom/pending-home-sales-jump-7-5-in-october

October 2021 Existing-Home Sales Rise Modestly

Wed, 24 Nov 2021 15:45:09 +0000

Housing market activity in October fell 0.8% from September 2021, with existing-home sales reaching a 6.34 million seasonally adjusted annual rate.

https://www.nar.realtor/blogs/economists-outlook/october-2021-existing-home-sales-rise-modestly

October 2021 Realtors® Confidence Index Report: First-time Buyers Struggle to Compete Against Cash, Investor, and Vacation Home Buyers

Mon, 22 Nov 2021 19:35:29 +0000

First-time buyers continue to struggle to compete with cash and non-primary residence buyers, according to the October 2021 REALTORS® Confidence Index report.

https://www.nar.realtor/blogs/economists-outlook/october-2021-realtors-confidence-index-report-first-time-buyers-struggle-to-compete-against-cash

Existing-Home Sales Inch Up 0.8% in October

Mon, 22 Nov 2021 14:35:20 +0000

Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease.

https://www.nar.realtor/newsroom/existing-home-sales-inch-up-0-8-in-october

Commercial Weekly: Office Occupancy Recovery Facing Headwinds Due to Working From Home, Smaller Office Spaces, and Lack of Workers

Fri, 19 Nov 2021 20:25:28 +0000

After office occupancy rose by 6 million square feet during 2021 Q3, occupancy fell anew by 2 million square feet as of November compared to 2021 Q3 bringing the total loss in office occupancy to 133 million square feet since 2020 Q2.

https://www.nar.realtor/blogs/economists-outlook/commercial-weekly-office-occupancy-recovery-facing-headwinds-due-to-working-from-home-smaller-office

October 2021 Foot Traffic

Fri, 19 Nov 2021 15:13:53 +0000

Showings declined in every region: Northeast region (-23%), Midwest (-17%), West (-17%) and South (-12%).

https://www.nar.realtor/foot-traffic/october-2021-foot-traffic

Commercial Weekly: Retail Sales Continue Positive Impact on Retail Space Net Absorption

Thu, 18 Nov 2021 20:36:53 +0000

In October 2021, both consumer confidence and retail sales increased, with consumers indicating they intend to purchase housing, vehicles, and appliances.

https://www.nar.realtor/blogs/economists-outlook/commercial-weekly-retail-sales-continue-positive-impact-on-retail-space-net-absorption

Instant Reaction: Mortgage Rates, November 18, 2021

Thu, 18 Nov 2021 16:37:57 +0000

Mortgage rates rose significantly this week, due to inflation that was higher than expected, with the 30-year fixed mortgage rate moving up to 3.10% from 2.98% the previous week.

https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-november-18-2021

Strong Potential for Office-to-Housing Conversion of Class B Buildings in Metro Areas Impacted by the Pandemic

Tue, 16 Nov 2021 20:57:24 +0000

Apartment demand is soaring and office vacancy rates have spiked, which has prompted conversion of vacant office buildings into housing, particularly multifamily rental housing or owner-occupied condominiums.

https://www.nar.realtor/blogs/economists-outlook/strong-potential-for-office-to-housing-conversion-of-class-b-buildings-in-metro-areas-impacted-by

Housing Affordability Conditions Unchanged in September

Tue, 16 Nov 2021 17:16:29 +0000

At the national level, housing affordability was flat in September compared to the previous month, with the monthly mortgage payment falling by 0.7% while the median family income fell modestly by 0.6%.

https://www.nar.realtor/blogs/economists-outlook/housing-affordability-conditions-unchanged-in-september