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While office buildings lie empty and multifamily apartment rentals fall, housing in some college markets may be the commercial real estate industry's shining star.
CBRE data released by the Wall Street Journal shows that sales of student housing units hit a record $22.9 billion in 2022, driven by limited availability and high demand at popular U.S. colleges and institutions.
So, picture this: You've had an offer accepted on a stunning piece of land in Central Florida, just a short drive from the state's magnificent coastline. You're excited about the possibility of using short-term rentals to fund your early retirement. Everything appears to be proceeding perfectly until you get the insurance estimate and then reality sets in. It's like getting hit in the stomach with a sucker.
Insurance premiums have the potential to chip away at your business's bottom line. After talking to an agent, though, you see that there's a chance you avoided disaster. Finding an insurance company to cover your property would have been hopeless had it been located even a few miles to the south.
But what really is happening in the Sunshine State? What about the states of California and Texas? If you've seen how difficult it is to obtain reasonably priced insurance in some places, your worries are well-founded. Many insurance companies have left markets due to the limited capacity and rising pricing. You may be asking, "Why is this happening?" which is a natural reaction.
Purchase lending is being challenged on all fronts by rising interest rates and rising home prices, forcing consumers to seek out non-traditional financing options.
Black Knight's originations market analysis shows that the number of rate locks decreased in February compared to January, but dollar volume increased because of a rate environment that benefited non-conforming loans such as jumbo loans and adjustable-rate mortgages (ARMs).
According to the pipeline data, the dollar volume of rate locks increased by 2% in February compared to January, with the acquisition of locks increasing by 4%. While this was happening, Black Knight reported that cash-out refinances dropped by 11%, and rate/term refinances stayed at record lows.
Recently ATTOM data conducted a report on foreclosure and vacant homes across the U.S. In this article, we will discuss their findings. The report examines publicly recorded real estate data collected by ATTOM, such as foreclosure status, equity, and owner-occupancy status, in conjunction with monthly updated vacancy data.
ATTOM, the nation's leading real estate data aggregator, has released its Rental Affordability Report for 2023, which reveals that in 210 of the 222 counties in the United States analyzed, renting a three-bedroom home is more cost-effective than buying a similarly-sized home at the median price.
According to the Mortgage Bankers Association's weekly survey for the week ending January 13, application volume for both refinancing and purchasing a home increased by double digits in the first full week of the new year.
The Market Composite Index tracked by the MBA rose 27.9% from the previous week after seasonal adjustment and 32% when not adjusted.
According to new data released by the US Census Bureau on Thursday, the seasonally adjusted annual rate of housing starts fell to 1,382,000, 1.4% below levels recorded in November.
The Federal Reserve's efforts to rein in historically high inflation have come at a steep price for multifamily real estate borrowers, who must now contend with increased interest rates and a greater requirement for down payments in order to close deals.
From January through November of this year, housing finance giants Fannie Mae and Freddie Mac issued a total of 3,340 unique multifamily loan securities, which CoStar evaluated. More than $74 billion in loans on around 8,500 properties were represented by the securities.
Interest rates are increasing, as seen by the statistics. Loan-to-value ratios, which measure how much a borrower is borrowing in relation to how much their home is worth, dropped at the start of the year and have since leveled off around 50%.
According to the National Association of REALTORS®, Atlanta has the best prospects for growth among major U.S. housing markets in the coming year.
The "New York of the South" is on NAR's list of 2023's most exciting real estate markets for three primary reasons: The NAR research cites many factors that give Atlanta a leg up on other comparable cities when it comes to housing affordability. These include a fast-expanding population, a lower median home price, and a larger share of renters who can afford to buy. Additionally, several large technology businesses are coming to Atlanta from the West Coast, contributing to the city's thriving job economy.
Investment giants backed by venture capital as well as small businesses with fresh funds have been pouring into real estate over the past several years. Investment in real estate increased from brisk to frenetic as a result of record-low mortgage interest rates and the widespread distribution of stimulus funds. Additionally, investors, many of whom made all-cash offers, completely altered several markets, often making it impossible for first-time purchasers to obtain a property.
Due to the changes in the property market, many investors, especially smaller ones, have recently slowed down on their acquisitions.
As mortgage rates have risen and rent increases have slowed, the market circumstances that made real estate investing so appealing have begun to dry up.
