October 2024

Property Typecast

Rent growth slows due to increase in new apartments. In recent months, the market has been on a roller-coaster ride, highlighted by a global stock selloff in early in August, only to have prices make a recovery and stabilize a few weeks later. A main catalyst for the market meltdown was likely July’s weaker-than-expected nonfarm payrolls report.

(via Scotsman Guide)

Mortgage Refinance Demand Up 94%

Mortgage demand is now heavily skewed toward refinancing, as interest rates declined for the fifth straight week. Total mortgage application volume rose just 1.6% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

(via deBanked)

Changing the Rules of the Game

New roles, new challenges and new opportunities may reshape the commercial sector. The commercial real estate landscape is undergoing a major change. Gone are the days of chasing the next big deal. Instead, the future belongs to those who master the art of asset management.

(via Scotsman Guide)

Office Sector Continues to Suffer, Hitting Record Vacancy Rate

As the Federal Reserve approaches its first interest rate cut since the beginning of the COVID-19 pandemic, the change in direction cannot come soon enough for the troubled office sector. Moody’s Analytics data revealed that in the second quarter of 2024, the office sector’s vacancy rate hit an all-time high of 20.1%.

(via Scotsman Guide)