The real estate market is currently experiencing a significant decline, with real estate being the only group in the S & P 500 that has fallen in 2024, dropping by 4.7%. There is a great deal of uncertainty surrounding the commercial real estate (CRE) market, particularly in relation to interest rates and the refinancing of
Real Estate
Manhattan’s real estate market is currently experiencing a shift towards becoming a buyer’s market. Recent reports have indicated that apartment prices in Manhattan have fallen, while inventory has risen in the second quarter of 2024. These changes have led to a decrease in the average real estate sales price in Manhattan by 3% to slightly
As we navigate through the real estate market in the midst of ongoing economic shifts, it is becoming evident that the heat surrounding home prices is beginning to dissipate. Recent reports indicate a decrease in the rate of price gains, hinting at a potential slowdown in the previously booming housing sector. While prices are still
As the spring housing market concludes and the summer season begins, the challenges in the housing market show no signs of abating. Despite high home prices continuing to climb, mortgage rates remaining elevated, and limited increase in home listings, the state of the housing market remains lackluster. This is evidenced by the stagnant weekly mortgage
The housing market is facing a bleak future, according to Bank of America economists. They predict that the market is unlikely to recover for several years, and affordability will not improve unless a recession occurs. The bank’s economists paint a mostly pessimistic picture of the sector, pointing to various factors that are working against a
As the second half of the year unfolds, fixed-income investors may find it necessary to make adjustments to their portfolios. Initially, there were expectations of multiple interest rate cuts by the Federal Reserve, but the central bank has held the federal funds rate steady between 5.25% and 5.50%. Despite this, there is anticipation of rate
The U.S. housing market can be a complicated and challenging place for potential buyers, but there are areas that are considered to be the least difficult places to purchase a home. According to a new real estate indicator, certain counties have been identified as the least difficult markets to buy a home. When sorted by
The National Association of Home Builders has reported an increase in the construction of built-for-rent single-family homes in the United States. This trend is believed to be a response to the ongoing housing affordability crisis, which has been exacerbated by rising mortgage rates and the difficulty of purchasing a home. Chief economist Robert Dietz at
The recent decrease in mortgage rates did not seem to generate much excitement among consumers. The Mortgage Bankers Association reported that total mortgage application volume only rose by 0.9% compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also decreased slightly to 6.94%. However, this minimal drop did not lead
The Federal Reserve officials are facing a challenge as they monitor the receding inflation rates. One key final hurdle highlighted by Bank of America is the persistent high housing costs. Despite positive trends in recent months, shelter costs remain elevated and have prevented the Fed from being confident enough to reduce interest rates. At the