Existing-home sales pulled back more than expected in March in the U.S., according to the National Association of Realtors. Month-over-month sales declined in three out of four major U.S. regions, while sales in the Northeast remained steady. All regions posted year-over-year decreases. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and…
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Economists warn that the U.S. commercial real estate industry is in trouble following the recent meltdown in the banking industry. A Goldman Sachs report shows that about 80% of all bank loans for commercial properties come from regional banks that are experiencing the most pressure during the current crisis, which began earlier this month with…
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January was the worst month for home sales in Canada since 2009, statistics released by the Canadian Real Estate Association (CREA) show. Home sales edged back down 3% between December 2022 and January 2023, giving back all of December’s small gains and rejoining the mild downward trend observed since last summer. The actual (not seasonally…
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Fitch Rating is projecting home price growth in Brazil, Mexico and Colombia in 2023, albeit at a slower pace in Mexico and Colombia compared with 2022, given credit availability, supply shortages and higher construction input costs. Home price growth forecasts for these countries are the highest of the 15 countries covered in the agency’s Global…
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Latin America’s real estate sector is expected to be neutral in 2023, as a weaker economic environment in some countries of the region and the potential recession in U.S. may partially impact the sector fundamentals, according to Fitch Ratings. Elevated inflation, adverse financial conditions and policy uncertainty may also curb growth, the rating agency said…
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The EY’s Future Workplace Index reveals surprisingly rosy attitudes on commercial real estate investment despite the current inflation and interest rate environment. The US economy is undeniably cooling, and a recession is anticipated in 2023. However, regardless of investment decisions, the macroeconomic outlook is forcing leaders to scrutinize their office portfolios from a new perspective.…
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Mortgage applications in the US hit a new low since 1997, data from the Mortgage Bankers Association (MBA) showed. For the week ending Nov. 4, the MBA’s overall activity index fell 0.1% on a seasonally adjusted basis from one week earlier. Refinancing demand decreased 4% from the previous week and was 87% lower than the…
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Chile’s capital Santiago, is the most expensive city in Latin America to buy real estate, a new survey has found. The Latin American Real Estate Survey -conducted by the Centre for Research in Finance (CIF) of the Torcuato Di Tella University and online real estate portal Zonaprop – crunched property prices in cities across Argentina,…
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In these difficult economic times, many Americans are struggling to keep their homes. Lillian Powers, a real estate specialist with eXp Realty, has launched a new website, ForeclosureStopsHere.com, to help homeowners avoid the long-term negative effects of foreclosure. The website provides information on how to avoid foreclosure and what to do if you are already…
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