Commercial & Residential Property Blog

U.S. home prices, including distressed sales, increased by 2.9 percent compared to the same month last year, according to CoreLogic in its monthly index.

Washington. D.C.—A recent webinar conducted by the National Association of Homebuilders titled ‘The Demographics of Today’s Renters – Who Are They and How are They Different?’ addressed questions about demographic, generational and lifestyle shifts as well as economic realities, all of which help predict fundamental trends that will unfold in the future for the multifamily market.

Phoenix– In a move that it says signals the emerging recovery of Phoenix’s multifamily market, Transwestern’s Phoenix office has successfully negotiated the sale of the Monterra apartment community in Phoenix for $16,650,000.

The average interest on a 30-year fixed mortgage dipped to a new record low of 4.57 percent this week — down from 4.58 percent a week ago, according to Freddie Mac, which began tracking rates in 1971.

Philadelphia–When the Waterfront Square Condominium and Spa project is completed, 1,000 units will come online in the city of Philadelphia. As of now, two phases have been completed, which include three buildings.

Better times are afoot for the Manhattan commercial real estate market, according to Cushman & Wakefield. The firm today released second-quarter statistics showing that the vacancy rate declined to 10.8 percent in June from 11.6 percent in March.

An odd scene has been playing out lately in the offices of mortgage brokers and bankers around the country.

New York–Two reports on the Manhattan residential market by two locally based residential specialists, both released in early July, point to improvement in sales volume and prices compared with the depths of the recession last year.

Washington, D.C.–The apartment market in Greater Washington, DC, did not escape the consequences of the recession, but Bainbridge Cos. is preparing for the impending return of demand. The Wellington, Fla.-based residential and commercial real estate concern has just revealed that it will erect a 200-unit high-rise apartment property in downtown Bethesda, Md., less than 10 miles outside of the nation’s capital.

NEW YORK — A handful of reports released Thursday shows the Big Apple’s housing market in recovery, though headwinds like high unemployment, tight credit and shadow inventory still linger.