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General Electric is nearing a deal to sell its $30 billion real estate portfolio to a group led by private-equity firm Blackstone and Wells Fargo, Reuters reported April 9. The sale would be the largest commercial real estate deal since Blackstone’s 2007 purchase of Equity Office Properties Trust.
Average fixed rates dropped during the past week due to a weaker than expected March jobs report, Freddie Mac reported April 9 in its weekly Primary Mortgage Market Survey.
The residential real estate market is gaining momentum, with a 3.2 percent annual appreciation rate and 86 percent of markets expected to increase in value over the next year, according to data from real estate technology firm Veros Real Estate Solutions, MBA NewsLink reported April 7.
A harsh winter and slowing economic activity led to fewer home sales than were expected during the first quarter, but home sales this year still are expected to be the best since 2007, Freddie Mac reported April 9 in its U.S. Economic and Housing Market Outlook.
Respondents to Fannie Mae's National Housing Survey released April 7 said they don’t expect their economic situation to improve over the next 12 months, and the share of respondents who said they would buy a home the next time they moved dropped to 60 percent — a new all-time survey low.
Renting a home is more expensive than buying one in 76 percent of the counties studied in the Residential Rental Property Analysis released by data firm RealtyTrac April 9. The report compared monthly payments on median-priced homes to fair-market rent for a three-bedroom property in 461 counties.
The real estate industry is expected to see solid growth through 2017, according to a three-year forecast released April 8 by the Urban Land Institute’s Center for Capital Markets and Real Estate. The forecast noted that demand for offices and apartments will be particularly strong.
Increased hiring — especially within the technology sector — has helped office rental rates reach their highest quarterly gain in a decade, Reuters reported April 8. Rents grew 3.1 percent during first quarter.
Lenders closed $399.8 billion in commercial real estate loans in 2014, and experts expect this year to be equally fruitful, GlobeSt.com reported April 9. Multifamily properties saw the highest origination volume at $150.3 billion.
The Appraisal Institute’s National Nominating Committee will interview three candidates for 2016 AI vice president during its May 6 meeting in Chicago. The committee is expected to nominate one or more individuals for 2016 vice president at the Board's May 7-8 meeting in Chicago.
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