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News Updates

GREAT GULF GROUP LAUNCHES BEACON RESIDENTIAL BRAND AS ITS BUILD-TO-RENT PORTFOLIO SEES GROWING SUCCESS IN U.S. SUN BELT

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Active since 2020, Beacon Residential builds on Great Gulf’s existing build-to-rent portfolio, spanning seven U.S. markets and representing 16 communities and over 2,300 homes Great Gulf Group is pleased to announce the launch of the Beacon Residential brand, the company’s purpose-built, single-family-rental community division. The unveiling of the brand comes at an opportune time as the build-to-rent portfolio continues to experience tremendous success in the U.S., with a total of 16

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Redfin Reports Home Prices Climb 2% From a Year Ago, With Low Supply Fueling Competition

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Prices posted their biggest increase in over seven months, with more demand than supply as high mortgage rates deter sellers The typical U.S. home sold for $382,500 during the four weeks ending July 16, up 2.1% from a year earlier. That’s the biggest increase since December 2022 and the second straight price uptick after nearly five months of declines, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

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PROFITS ON HOME SALES REBOUND ACROSS U.S. IN SECOND QUARTER OF 2023 AS HOUSING MARKET REVIVES

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Profit Margins on Typical Sales Nationwide Increase Following Three Quarterly Declines;  Investment Returns Rise as Median U.S. Home Price Jumps 10 Percent;  Seller Profits Still Down Annually Following Earlier Drop-offs ATTOM, a leading curator of land, property, and real estate data, released its second-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 47.7 percent in the second quarter –

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CORTLAND HIRES JUAN BUENO AS PRESIDENT OF OPERATIONS

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Cortland, a vertically integrated, multifamily real estate investment, development, and management company, announced it has appointed Juan Bueno President of Operations to support the firm’s operating platform.  In this newly created role, Bueno will oversee a variety of critical functions, including Operations and Facilities, Analytics, Revenue, Talent, Marketing, Communications, and Resident Experience. In partnership with these teams, he will lead Cortland’s transformational pursuit of a modernized operations and service delivery platform that enables

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Apartment Market Continues to Loosen

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Transactions Pull Back Further Due to Rising Cost of Capital Apartment market conditions continued to weaken in the National Multifamily Housing Council’s (NMHC’s) Quarterly Survey of Apartment Market Conditions for July 2023, as the Market Tightness (26), Sales Volume (40), Equity Financing (22) and Debt Financing (18) indexes all came in well below the breakeven level (50). “Both debt and equity capital continue to pull back from the apartment market amidst an

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Inflation is Slowing, But Fully Quelling It Will Be Tough

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Limited Supply of Homes for Sale Boosts Prices, New Home Construction While the latest data on inflation has provided reason for optimism, less favorable base effects are likely to slow further progress in reducing annual inflation to the preferred 2-percent target, according to the July 2023 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. Given the low rate of productivity gains, wage growth appears to remain too high for

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