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Douglas L. Nickel, MAI, was reappointed by Delaware Gov. Jack Markell to a three-year term on the Delaware Council on Real Estate Appraisers where he serves as vice chairman, Appraiser News Online learned May 18.
Credit standards for commercial real estate loans tightened during the first quarter, and the pace of tightening has grown during the past year, according to the Federal Reserve Board’s Senior Loan Officer Opinion Survey, the National Association of Home Builders reported May 4.
With the pace of commercial mortgage-backed securities deals slowing, lenders are re-evaluating their positions in and commitment to the market, Forbes reported May 11. Deutsche Bank retained its position as the top CMBS lender, while Bank of America disappeared from the list of top-10 contributors.
Tech and healthcare firms are driving growth in an otherwise sluggish U.S. office market, according to commercial real estate company CBRE, World Property Journal reported May 6. Other office bright spots: downtown markets and well-located class B properties.
U.S. hotel industry revenue topped $189 billion in 2015, up nearly $14 billion from 2014, according to hospitality research firm STR, MBA NewsLink reported May 11. However, last year saw the fewest hotel transactions in three years.
The millennials’ preference to rent rather than own has boosted the rental market but depressed home sales, and their desire for open floor plans and amenities has altered office space options, the National Association of Real Estate Investment Trusts reported May 9.
Single-family home prices during the first quarter increased in 87 percent of metro areas, including double-digit growth in 28 of the 178 metropolitan statistical areas tracked by the National Association of Realtors, the organization reported May 9.
The number of foreclosures in the U.S. has hit its lowest point since October 2007, with only 1.1 percent of the nation’s homes in foreclosure, according to the National Foreclosure Report from analytics firm CoreLogic, HousingWire reported May 10.
Average fixed mortgage rates fell for the third consecutive week, reaching a new low point for the year, Freddie Mac reported May 12 in its Primary Mortgage Market Survey.
The higher interest rates that were prevalent before the recent financial crisis are unlikely to be seen again, primarily because of weak investment spending and the changing relationship between rates and inflation, according to ratings agency Moody’s, Business Insider reported May 11.
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