Luxury Home Sales See Biggest Decline Since Start of Pandemic
Redfin, Seattle, said sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent shockwaves through the housing market.
Rate Locks Fall Across All Loan Types
Black Knight, Jacksonville, Fla., said despite a leveling off in interest rates, lock volumes fell another 4.8% from April, with monthly declines seen across both rate/term (-23.6%) and cash-out (-11.9%) refinances.
Life Sciences Job Growth Spreads To Smaller Markets
CBRE, Dallas, said the fast-growing life sciences real estate sector now extends beyond coastal research hubs for which it is mostly known.
MBA Chart of the Week, June 10, 2022: Rental Housing Market Conditions
Commercial and multifamily real estate – after years of strong and steady growth – is in a period of transition, driven by changes in the space, equity and debt markets.