Appraisal Now

Reuters | China's new home prices fell 0.4% in September, the fastest drop in 11 months, worsening the property slump that's dragging down economic growth. Despite repeated policy support including mortgage cuts and easing buying restrictions, the market remains weak. Analysts say recovery could take over a year.

Wall Street Journal | New York's office market is booming with 23.2 million square feet leased in 9 months, the most in 19 years. Financial firms and tech companies are driving demand. Manhattan now exceeds pre-pandemic levels, while U.S. offices lag 11% behind. High return-to-office rates and appeal to young workers are fueling growth.

Seeking Alpha | Real estate stocks fell more than 3% amid Week 2 of the government shutdown and renewed trade war fears. The shutdown delays home sales, FHA/VA mortgages, and commercial deals. Trump threatened China tariffs. Alexandria Real Estate stocks dropped 11.79%, and CoStar stocks dropped 10.87%.

The Baltimore Banner | New York buyers used debt service coverage ratio (DSCR) loans to acquire more than 500 Baltimore homes at inflated prices, many now in foreclosure. Properties were bought for two to three times their value without renovations, threatening mass displacement and neighborhood collapse. Wall Street lenders blacklisted buyers after defaults, halting DSCR lending citywide and risking a broader housing crisis..

Bloomberg | Sara Bronin's National Zoning Atlas has mapped 24% of US jurisdictions' land-use rules that restrict housing. The project exposes how zoning drives the affordability crisis. Bronin won a $250,000 Heinz Award to complete mapping 33,337 jurisdictions. Bronin’s next big project will be the National Preservation Atlas for historic sites.

Governing | Over the next 20 years, $84 trillion to $124 trillion will transfer from baby boomers to millennials, including 41% of US real estate. Millennials favor walkable, mixed-use developments over sprawl and prioritize sustainability and community impact. Cities should update zoning to prepare for a values-driven development shift.

Wall Street Journal | The San Francisco Centre mall is 93% vacant after Nordstrom and Bloomingdale's closed. Once a top performer earning $1,000 per square foot, it now loses $20 million yearly. Pandemic-era crime, homelessness, and shoplifting drove retailers away. The property is worth $200 million vs. its $558 million loan. The city is recovering, but the mall trails behind.

Realtor.com | Starbucks is closing hundreds of underperforming US stores, affecting urban and suburban areas. Closures may signal declining neighborhood desirability but won't directly tank property values. The hardest hit areas include Philadelphia, DC metro, and Baltimore. Starbucks’ CEO says the net store count is dropping by 1% to about 18.3,000 locations, while more than 1,000 stores are being modernized.

Realtor.com | Texas is requiring home and auto insurers to include appraisal provisions in policies, allowing policyholders to dispute claim valuations through independent appraisers rather than costly litigation. The move addresses consumer frustration as premiums doubled over a decade while more than 1 million dropped coverage.

CaixaBank Research | Spain's housing market is booming with 700,000 sales in 12 months (the highest since 2007), driven by demand outpacing supply. Prices are up 12% year on year, now exceeding 2007 peaks nominally. Signs of overvaluation are emerging, but unlike past bubbles there is no oversupply and household and bank finances are healthier.

Cotality | New Zealand property values rose 0.1% in September, breaking a five-month decline streak. The national median is now NZ$810,141. The increase is attributed to lower mortgage rates and tentative economic recovery, but cautious sentiment persists with high listing inventory. Provincial areas are outperforming main centers.

ChosunBiz | Korean banks face conflict with the appraisal industry over in-house property valuations. Banks argue that self-appraisals cut costs and improve efficiency, but appraisers claim the practice is illegal under the Appraisal Act and creates pressure to overvalue collateral. Kookmin Bank's self-appraisals tripled to 75 trillion won in 2024.

Allwork | NYC office leasing hits a 13-year high as tenants prioritize transit access and dining over flashy amenities. While landlords added gyms and lounges post-pandemic, surveys show that more than 85% of respondents value transportation but half dismiss outdoor space and fitness centers. Buildings near transit hubs have lower vacancy rates. The focus shifts to fewer, practical features and maximizing amenity use beyond work hours.