Industry personnel news from PACE Loan Group and Maverick Commercial Mortgage.
Category: News and Trends
Asking Rents Fall; Renters Can Afford Larger Spaces, Redfin Finds
Redfin, Seattle released some analyses of the current rental market, including the finding that the median asking rent fell 0.7% year-over-year in November to $1,595.
Commercial and Multifamily People in the News Dec. 12, 2024
Commercial and multifamily industry personnel news from JLL and Marcus & Millichap.
CMF Quote of the Week
“Geopolitics and conflicts around the world weigh heavily on many investors’ minds, as do new taxes and regulation. But with the election over, we can start to focus on the realities of the moment—especially the real estate risks and the opportunities likely to be found in 2025.”
–AFIRE CEO Gunnar Branson
Overseas Investors Report Uncertainty, AFIRE Finds
Cross-border investment dynamics, climate change trends and zoning reform are top-of-mind for global institutional investors, according to AFIRE, the association for international commercial real estate investors.
CBRE: Retail Market Faces Space Shortage
The United States is under-retailed by 200 million square feet amid rising consumer demand, CBRE, Dallas, found in a recent analysis.
Freddie Mac Finds Cost Barriers May Prevent Housing Choice Voucher Usage
Although there are significant variations by market, Housing Choice Voucher use remains limited in high opportunity areas compared with areas of concentrated poverty, according to Freddie Mac Multifamily, McLean, Va.
Redfin: 2025 Likely to See More Sales
Redfin, Seattle, released predictions from its economists for next year, anticipating there will be more sales due to pent-up demand, but some Americans hoping to buy will still be priced out.
RentCafe: Housing, Jobs, Lifestyle Driving American Moves
RentCafe, Santa Barbara, Calif., reported that approximately 24 million Americans moved last year, citing housing, jobs and lifestyle choices as motivations.
The New Status Quo: Increased Construction in Low-Density Areas
Low-density suburbs are seeing more construction due to a lack of buildable lots, higher building costs and an ongoing shortage of construction workers, the National Association of Home Builders’ Home Building Geography Index reported.