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Demand for suburban mixed-use properties is higher than for similar downtown properties and is keeping vacancy rates down — 13.1 percent at the end of the third quarter, which is the lowest vacancy rate since 2008, according to real estate services firm CBRE, World Property Journal reported Oct. 11.
Months after the market seemed to have peaked, prices for apartment buildings continue to rise, which has surprised investors and created a market where property prices aren’t commensurate with the income the buildings generate, according to data firm Real Capital Analytics, National Real Estate Investor reported on Oct. 11.
The top five multifamily markets poised for growth all are on the West Coast, with Portland, Oregon, taking the top spot, according to a report from private equity firm Trion Properties, National Real Estate Investor reported Oct. 7.
Apartments close to National Hockey League arenas have higher rents than similar units elsewhere in a city, according to an Oct. 16 report from MarketWatch and apartment listing service RENTCafe. Columbus, Ohio, commanded the highest premium — apartment rents near the Blue Jackets’ arena were 69 percent higher than the city’s average.
Many retirees aged 70 or older have reversed course, leaving sunbelt states such as Florida and Arizona to return to the colder states where they originally lived, the National Association of Realtors reported Oct. 13.
Foreclosure filings dropped 13 percent between August and September, marking a 24 percent decline in filings and the smallest number of foreclosures since December 2005, analytics firm ATTOM Data Solutions reported Oct. 13 in its Foreclosure Market Report.
Average fixed mortgage rates during the past week ticked higher following an increase in Treasury yields and an anticipated December rate hike, Freddie Mac reported Oct. 13 in its Primary Mortgage Market Survey.
The median home price in the inner cities of 31 major metro areas climbed 52 percent over the last six years, outpacing price growth in surrounding metro areas by 18 percent, real estate marketplace Redfin reported Oct. 10. The data reflects an economic recovery and refutes claims of disastrous inner city market conditions.
Despite predictions of declining homeownership in the coming years, Freddie Mac reported Oct. 12 that it thinks the rate of ownership will be driven up by millennials who finally will settle down and purchase homes at the same pace as previous generations. Freddie also predicted an increase in homeownership among minorities.
The Consumer Financial Protection Bureau on Oct. 12 issued a revised small entity compliance guide to the TILA-RESPA integrated disclosures, ABA Banking Journal reported. Updates relate to records retention, construction loans, disclosures of seller-paid costs and form completion, among others. CFPB also updated its Loan Estimate and Closing Disclosure forms.
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