Home sales hit old heights, housing resilience and CRE rents under pressure, CRE landlords doing a client limbo, and what the average American home looks like now.
In Today's News
Existing-Home Sales Hit Highest Level Since December 2006
The National Association of Realtors (NAR) says that existing-home sales in August were at a level not seen since before the Great Recession. The national median existing price also has now marked 102 straight months of year-over-year gains.
Why it matters: December 2006, as we know now, was shortly before the housing bubble burst as the global economy reeled. Different factors are at play here now, but this kind of report speaks to both good times and a clarion call for caution.
Housing Resilience Masks Underlying Weaknesses
This piece from Credit Union Times details warnings from industry economists who say a surging housing market is masking realities that will become clearer as the year goes on.
Why it matters: More fuel for the fire here for those worried that joblessness and other economic effects of the pandemic will soon result in rising foreclosures and evictions.
Equity Investors Feel the Pain of Missed Rents
This GlobeSt.com report parses findings from a couple of real estate researchers about the pandemic's impact on missed rental payments across all segments, especially retail and office.
Why it matters: While the residential housing market booms, here's a breakdown of how missed rent payments are now hitting investment funds, i.e., real estate investment trusts (REITs), where it hurts.
Today on Millionacres
Landlords Are Offering Concessions As Demand for Office Space Wanes
Millionacres' Maurie Backman looks at how and why CRE property owners and managers are offering reduced rent and other incentives to keep their spaces filled and income flowing.
Why it matters: But how low can they go? Every CRE manager out there may be wondering if they'll have to start doing the limbo, limbo, limbo like this.
This Is What the Average American Home Looks Like
Millionacres' Laura Agadoni updates us on size, space, and features that matter now in an ever-changing residential real estate market.
Why it matters: Real estate investors who keep up with the trends are also keeping up with their investments. After all, proven products are what people want and will pay for in good markets and bad.