The commercial real estate market is facing tough times. Imagine you own a big office building, but many of your tenants have left due to the pandemic, and it's been hard to find new ones. This means you're not making enough money to pay off your mortgage. Banks that gave you the mortgage are getting worried because if you can't pay, they'll lose money. To avoid bigger losses, some banks are deciding to...
Affordable housing can be difficult to come by. In the past decade alone, the number of homes for purchase under $200,000 went from half of all sales to 21% of all home sales, according to a recent report. At the same time, the national median listing price on homes has increased nearly 40% since 2019. For the roughly two-thirds of Americans who do own homes, location is a major determinant of their...
Housing markets on Florida's west coast are cooling faster than anywhere else in the U.S. due to a construction boom, natural disasters, and high insurance costs. This surge in supply is reducing competition at a time when high housing costs and insurance premiums are already discouraging buyers. Rapid Cooling in Western Florida: North Port, Tampa, and Cape Coral are experiencing the fastest...
Many anticipated a strong spring home-buying season, but the reality has proven challenging for hopeful buyers. Home sales stagnated last month as mortgage rates and home prices continued to rise. However, an increase in resale inventory may help moderate home price growth somewhat. Experts believe the market will regain momentum only when mortgage rates drop sufficiently to make homes more affordable....
In May 2024, the real estate market saw a significant decrease in transactions, dropping by 25% compared to May 2023. Despite the increase in listings by 56%, fewer transactions were completed, indicating potential buyer hesitation or market saturation. Interestingly, while the list price remained stable at $505,000, the sales price increased by 10% to $438,000, suggesting strong buyer competition for...
The commercial real estate industry has experienced significant shifts in recent years, influenced by various economic, technological, and societal factors. Understanding these trends is crucial for investors, developers, and businesses alike. Here's an overview of the current state of the commercial real estate industry, highlighting key trends and offering insights into what the future might...
Nearly 17 years ago, two friends transformed travel by launching Airbnb. What began as an air mattress on a San Francisco apartment floor has evolved into a global network with nearly 8 million properties, generating over $250 billion in revenue from 1.5 billion stays. This innovative platform has redefined travel accommodations, providing travelers with unique options and property owners with new income...
The Volusia County housing market has been changing so much with the rest of the country. Currently high interest rates, combined with owners locked into low interest rates has had a huge affect on the days on market. It illustrates key metrics including active listings, transactions, average sale price, average days on market, and average list price. From March to April 2024, active listings slightly...
Last month's announcement by the National Association of Realtors about a $418 million settlement has sparked discussions about the impact of real estate settlement on agent roles. Despite concerns that these changes could marginalize agents, their value in the real estate process remains significant. This settlement, which addresses the impact of real estate settlement on the industry, will introduce...
As March draws to a close, the pace of transactions accelerates, contrasting starkly with the outset of January. In Daytona Beach alone, a staggering 27% surge in property sales marked the culmination of the recent quarter. This surge underscores the dynamic flux within real estate markets as seasons shift and priorities evolve. Daytona Beach Housing Update January 1st March...