Real Estate

Based on new data from national property broker Redfin, national median asking rents was up 14% year over year to $2,032 in July 2022. That’s the smallest annual increase since November, and compares with a revised gain of 15% in June and 16% in May. On a month-over-month basis, the median asking rent climbed 0.6%,…

Rent growth for apartment looks to have peaked after a tremendous run in 2021, and that could boost some of the real estate stocks that were the early darlings of the pandemic. Nationally, rents rose just 0.8% between June and July, one-third the growth seen across the same period a year ago, according to RealPage.…

Mortgage demand continues to weaken, still right around a 22-year low, but there was a sign in the weekly numbers that first-time buyers may be slowly returning. Mortgage applications to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 21% lower…

Just months ago, the housing market remained in overdrive: surging home prices, historically low interest rates and unrelenting demand. However, data now suggests to some experts that the market is in a “housing recession.” For example, sales of existing homes in July fell by 5.9% from June, marking the six straight month of a decline — and…

Property data company ATTOM just released its second-quarter 2022 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017. The report found that median single-family home and condo prices rose from the first quarter of 2022 to the second quarter of 2022 in 63…

The construction industry added 32,000 jobs on net in July 2022, according to an Associated Builders and Contractors analysis of data released this past week by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 311,000 jobs, or 4.2%. Nonresidential construction employment increased by 18,300 positions on net in…

According to CoreLogic’s latest Home Price Index for June 2022, nationwide home prices grew by 18.3% from June 2021, marking the 125th consecutive month of year-over-year increases. Though annual appreciation was still strong, it slowed from the previous month for the second consecutive month, reflecting reduced buyer demand in part due to higher mortgage rates…

According to LaSalle’s 2022 Mid-Year Investment Strategy Annual, market direction and economic outlooks have shifted since the start of 2022, with elevated inflation, slowing economic growth, and higher interest rates impacting real estate markets across North America. Overall market shifts are causing real estate investors to revisit earlier strategies as they understand and react to higher…