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News Updates

FORECLOSURE ACTIVITY SHOWS CONTINUED RISE IN Q3, APPROACHING LEVELS SEEN BEFORE PANDEMIC

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Highest Foreclosure Rates in New Jersey, South Carolina, and Delaware; Average Time to Foreclose Nationwide Hit Pre-Pandemic Levels ATTOM, a leading curator of land, property, and real estate data, released its Q3 2023 U.S. Foreclosure Market Report, which shows there were a total of 124,539 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 28 percent from the previous quarter and 34 percent from a

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Elevated Mortgage Rates Push Housing Sentiment Even Lower

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Consumers Now Point to Mortgage Rates, not Home Prices, as Primary Hindrance to Affordability The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased by 2.4 points in September to 64.5, as elevated mortgage rates further dampened already-pessimistic consumer housing sentiment. Five of the HPSI’s six components decreased month over month, including the components measuring perceived homebuying and home-selling conditions. In September, 16% of consumers reported that it’s a good time to buy a

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Redfin Reports Asking Rents Flattened in September Amid Growing Apartment Supply

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The median U.S. asking rent was little changed from a year earlier for the sixth straight month as an increase in the number of rentals made it harder for landlords to boost prices The median U.S. asking rent rose 0.4% year over year to $2,011 in September—the sixth straight month in which rents were little changed from a year earlier. That’s according to a new report from Redfin (redfin.com), the technology-powered real

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THE COUNSELORS OF REAL ESTATE® REVEALS ANNUAL TOP TEN ISSUES AFFECTING REAL ESTATE FOR 2024

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Political unrest/global economic health, office occupancy and valuations, housing shortage and artificial intelligence (AI) among key issues shaping real estate’s near future The Counselors of Real Estate®, a global organization of commercial property advisors, released its annual report on the Top Ten Issues Affecting Real Estate® for the upcoming year. Since 2012, the report has identified the current and emerging issues Counselors expect to have the most significant influence on real estate.

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REAL ESTATE INVESTORS OPTIMISTIC ABOUT THE FUTURE ACCORDING TO FALL 2023 RCN INVESTOR SENTIMENT SURVEY

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Challenges remain with high financing costs, limited inventory, and competition from other buyers, but most investors see better times ahead. Real estate investors believe that market conditions have improved and will continue to get better in the coming months according to the Fall 2023 Investor Sentiment Survey from RCN Capital, conducted by market intelligence firm CJ Patrick Company. Almost three quarters of the investors surveyed (72%) said market conditions for investing were better or the

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ALL HAIL TEXAS!

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Severe hail events 18% more frequent in the first half of 2023 than prior three years. Severe hail events in the United States – storms which delivered hail of at least one inch in size within a metropolitan area – increased by almost 18% in the first half of 2023 compared to the average number of events over the same period during the past three years, according to data produced

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