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Multifamily investor demand is currently high, but investors could see a change because rent growth went flat in August for the first time in six years due to large amounts of supply under construction, HousingWire reported Oct. 3.
According to a report released Oct. 1 by commercial real estate company Avison Young, co-working tenants comprised 12 percent of the nearly 25 million square feet of leases signed in Manhattan through the first three quarters of the year, up 4 percent from 2017, The Real Deal reported. The increase is part of a nationwide trend, the report showed.
The Tech Cities 2.0 report released Oct. 1 by real estate services firm Cushman & Wakefield named Austin, Texas, as the top U.S. city where technology is a vital component of the local economy and commercial real estate market, Mortgage Professional America reported. Rounding out the top five: Boston; Provo, Utah; Raleigh/Durham, North Carolina; and Salt Lake City.
The U.S. office market vacancy rate remained flat in the third quarter at 16.6 percent while office rent growth dropped to 0.4 percent from 0.7 percent the previous quarter according to analytics firm Reis, MBA NewsLink reported Oct. 4. Tucson, Arizona; Dayton, Ohio; Albuquerque, New Mexico; Buffalo, New York; and San Diego experienced the largest drop in vacancy.
Sales of existing homes peaked last year and are no longer a positive force on the economy amid continued affordability challenges, according to Bank of America Merrill Lynch economists, HousingWire reported Oct. 1.
Mortgage rates dropped slightly in the past week, following five consecutive weeks of gains, as high rates have led to a decrease in home purchase applications, Freddie Mac reported Oct. 4 in its Primary Mortgage Market Survey.
The Federal Housing Administration announced Oct. 1 that its investigation into potential appraisal inflations on reverse mortgage loans found that 37 percent were off by at least 3 percent, HousingWire reported. From Oct. 1, 2018, to Sept. 30, 2019, FHA will require a second appraisal on loans the agency deems to possibly have elevated valuations.
Second quarter space absorption for mall and lifestyle centers is negative with an annual supply growth of 0.6 percent and demand at 0.2 percent, according to analytics firm CoStar, National Real Estate Investor reported Oct. 3.
Parking demand throughout the U.S and Canada will remain high for both downtown and suburban offices as parking prices continue to increase in downtown areas because 86 percent of workers still commute by car, according to real estate services firm CBRE, World Property Journal reported Oct. 3.
The Green Bay Packers announced Oct. 3 that they will build more than 200 homes a block from their stadium, Lambeau Field, joining other National Football League teams that have expanded into real estate development, Bloomberg reported. The properties are the second phase of a mixed-use project that includes a hotel, brewpub, sports medicine center and tech innovation lab.
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