(One in a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Category: News and Trends
Quote: Sept. 3, 2024
“This finding is an encouraging sign of better momentum in the market, but it does not mean that the office market has fully turned a corner.”
–CBRE Americas President of Investor Leasing Mike Watts
First American’s Mark Fleming: Affordability Improves for Second Month, but Home Buyers Shrug
Nationally, affordability improved on a monthly basis for the second consecutive month in July, driven by lower mortgage rates and positive income growth. However, on an annual basis, affordability remains nearly 2 percent lower than one year ago.
CBRE: Office Lease Concessions Decline for First Time in 4 Years
The value of office-leasing concessions – including months of free rent – began to decline in the first half of this year and may be near a peak, according to a new report from CBRE, Dallas.
MBA Affordable Housing Leader Steve O’Connor Announces Plans to Retire
Steve O’Connor, MBA’s Senior Vice President for Affordable Housing Initiatives, recently announced plans to retire at the end of September.
NAR: Pending Home Sales Down 5.5% in July
The National Association of Realtors, Chicago, released pending home sales data, finding the metric fell 5.5% in July.
Quote: Aug. 30, 2024
“Steve has been a crucial part of the MBA leadership team for nearly 30 years. Most recently, he has spearheaded MBA’s efforts to bring the industry, policymakers, consumer advocates, and other community leaders together to find answers to the affordable housing crisis plaguing our country.”
–MBA President & CEO Bob Broeksmit, CMB, discussing MBA Senior Vice President Steve O’Connor’s plans to retire
Redfin: Amount Buyers Must Earn to Afford Typical Starter Home Just Shy of All-Time High
Redfin, Seattle, found homebuyers need to earn $79,252 annually to afford the median-priced starter home, only about $500 below the all-time high notched in October 2023 and up 4.4% year-over-year.
Quote: Aug. 30, 2024
“Steve has been a crucial part of the MBA leadership team for nearly 30 years. Most recently, he has spearheaded MBA’s efforts to bring the industry, policymakers, consumer advocates, and other community leaders together to find answers to the affordable housing crisis plaguing our country.”
–MBA President & CEO Bob Broeksmit, CMB, discussing MBA Senior Vice President Steve O’Connor’s plans to retire
Dealmaker: Colliers Brokers Sale of Historic Oakland Building
Colliers, Toronto, brokered the sale of a historic Young Women’s Christian Association building for $22.5 million in downtown Oakland, Calif.