With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down. Election Years Bring a Temporary Slowdown In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG, in election years there’s…
According to Redfin, the typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their home’s buyer. That’s down from an average of 2.62% in January 2024. Commissions have been gradually declining over the last few years, from an average of 2.89% in 2013 to 2.66% in 2023. But news…
The Brickell area of downtown Miami’s office market has seen rental prices soar to new heights due to intense demand from blue-chip companies based in New York, Chicago, Los Angeles and Latin America seeking premium office locations, surpassing the available supply. Brazilian bank Banco Master has secured the final 26,000 square feet in the prestigious…
Hotel investments account for 40 percent of all commercial transactions in Japan Global property consultant CBRE reported this week that Japan’s commercial real estate transaction volume for Q2 2024 decreased by 25% year-over-year to JPY 663.0 billion. Significant hotel transactions boosted the sector’s acquisition volume to JPY 280.0 billion, which is about 2.6 times the…
Veteran media and technology entrepreneur Michael Gerrity announced this week that Miami will be the future headquarters of his new global real estate information services company startup in 2025 — WORLD PROPERTY MEDIA. WORLD PROPERTY MEDIA is the parent holding company for a portfolio of three globally emerging real estate information platforms (news, streaming and…
Based on new data by the National Association of Realtors, pending U.S. home sales in June 2024 ascended 4.8%. All four U.S. regions posted monthly gains in transactions. Year-over-year, the Northeast, Midwest and South registered declines, while the West increased. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on…
Recent data from the Miami Association of Realtors indicates a slight decrease of 1.8% in total residential sales in Palm Beach County for February 2024, dropping from 1,794 to 1,762 units. Notably, sales of single-family homes in Palm Beach saw a year-over-year increase of 5.2% in February 2024, rising from 975 to 1,026 units. Luxury…
Based on a new report by global property consultant JLL, as demand for high-quality and differentiated office assets intensified during the pandemic, highly amenitized office buildings are expanding their outperformance against the broader market, particularly those that offer enhanced gathering spaces and prioritize wellness. JLL says highly amenitized buildings–assets with 10 or more tagged amenities…
U.S. Housing Affordability Remains at Historic Lows According to national property broker Redfin, the typical U.S. household earns $29,448 less than it needs to afford the median-priced home in 2024. While that’s a sign of a major housing affordability crisis, it marks an improvement from October, when the typical household earned a record $40,810 less…
According to the National Association of Realtors, pending U.S. home sales in February 2024 grew 1.6% month-over-month from January 2024. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home…