October Pending Home Sales Down 4.6%
Pending home sales slid for the fifth consecutive month in October, the National Association of Realtors reported Wednesday. Three of four U.S. regions recorded month-over-month decreases, and all four regions recorded year-over-year declines in transactions.
3Q GDP Shows 2.9% Growth
Real gross domestic product increased at an annual rate of 2.9 percent in the third quarter, according to the "second" (revised) estimate released Wednesday by the Bureau of Economic Analysis.
Nearly Half of Rental Units in Properties with Four or Fewer Units
Nearly 46 percent of U.S. rental housing units are in properties with one to four units, the Rental Housing Finance Survey from HUD and the U.S. Census Bureau reported.
Jobs Reports: ‘Great Resignation’ Starting to Fade
In the first two of four major jobs reports this week, ADP, Roseland, N.J., said private-sector employment slowed to 127,000 jobs in November. And the Bureau of Economic Analysis reported November job openings fell by more than 7 percent from a year ago.
Dealmaker: Sonnenblick-Eichner Co. Arranges $22M Los Angeles Hotel Refinance
Sonnenblick-Eichner Co., Beverly Hills, Calif., arranged $22 million in non-recourse first mortgage financing for Doubletree by Hilton Los Angeles-Commerce.