Median price hits 56 month high, up 23.4 percent from March of last year. Much of that increase however, can be attributed to a big change in product mix as sales in higher priced neighborhoods have shot up and a sharp drop in lower end deals. A total of 20,581 new and resale houses sold…
DQ News reports that a total of 15,945 new and resale homes sold in February 2013. That was down .7 percent from the 16,058 in January, but up 1 percent from the 15,780 sold in February 2012. It’s typica for January and February’s sales to be about the same. Median price was down .3 percent…
A total of 20,274 new and resale houses and condos sold in December 2012, which is up 5.1 percent from the 19,285 in November 2012 and up 5.3 percent from the 19,247 sold in December 2011. Sales were still 17.2 percent below the December average of 24,488 so there’s still room to grow. Median price…
According to Data Quick, 19,285 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in November 2012. Sales were down 8.5 percent from November, but up 14.2 percent from November 2011. A decline from October to November is normal and expected. The November average has…
The recovery is spreading west, which had been a deeply affect region of the country by the residential housing collapsed combined with the deep recession. There has been a few technology and/or energy based markets in California and Texas that have done well over the last couple of years and that strength is broadening to…
The multifamily segment of commercial real estate continues to strengthen in spite of new supply coming on line according to Randyl Drummer of CoStart news. Demand still far outstrips demand. For the sixth consecutive quarter, the National Multi Housing Council Quarterly Survey of Apartment markets showed improvements across all four indices. The indices measure supply,…
As prices get stupid for the product of choice – the triple net or absolute net, S&P BBB or better, single tenant retail, it starts pulling up secondary and tertiary markets and slightly weaker credit single tenant retail. Multi tenant won’t be far behind. We’re now in a broad based recovery that is pulling the…
For May 2012, DQ News reported that 22,192 new and resale homes sold Southern California last month. That was up from April by 15.1% and up 20.6% from the 18,394 sold in May 2011. The median price in the six county Southern County market rose to $295,000 last month. That was up 1.7% from April…
For March 2012, DQ News reported that 19,953 new and resale homes sold Southern California last month. That was up from February by 36% and up 2.8% from the 19,412 sold in March 2011. The average increase is 37% from February to March since 1988, when DataQuick’s statistics began. This sounds like great news, but…
DQ News reported that 14,523 new and resale homes sold last month. That was way down from December by 24.5% but up .4% from January 2011. Normally, sales are down from December to January because investors frequently want to close before year end and traditional residential buyers hold off until March or so to get back…
And again, there’s not much in the way of good news to report regarding home sales in Southern California for October 2011. DQ News reported that 16,829 new and resale homes sold last month, which is down 7.3% from September 2011 and up ½% from October 2010. Median price at $270,000 is down 4.6% from…
The recovering capital markets are helped by the improving economy and consistent job growth. Manufacturing is expanding and corporate profits are up strongly so the spigot is on again. Life companies are quite active again; new CMBS offerings and syndicators are assembling new CDO offerings. Even commercial banks are reporting loosening of commercial lending standards…
Massive new 1 million square feet mixed use project announced for Hollywood, California at Hollywood and Vine. Project valued at $1 billion includes two towers with the tallest at 48 stories while preserving the 13 story iconic 1956 Capital Records tower. The Millennium Hollywood project would be primarily residential, but would also have a hotel,…
Vacancy and rents are expected to be much better in 2011, which is leading to a ramp up in new construction. That’s the way the free market works. However, due to time required for permitting and construction, we won’t see much new supply hit the market until 2012. Resale prices have been increasing on newer,…
The Case Shiller index of property values report that prices fell 8/10ths of a percent in October 2010 over the same month in 2009. This is the biggest year over year decline since December 2009. The predicted drop was 2/10ths of a percent. A wave of foreclosures waiting to hit the market likely means that…
Do you think they will do it again after July’s far larger than anticipated drop in home sales? There’s talk of it. And if there is enough talk of it they will end up having to do it because buyers will delay out of anticipation for the beginning of another run of it. My guess…
I’m in the middle of helping with some property tax appeals for past clients so I don’t have time to write much of a summary for this one. I hope the link to the article written by my Columbus friend D.J. Falcoski [DJ@marketready.org] will suffice. I haven’t even had to chance to read it completely yet,…
It’s about time that we see a bit of good news or at least opinion concerning the state of commercial real estate. The author makes a good point though that somehow we need to look at indices more current than just closed transactions given that it can take up to six months from the…
Can November get here soon enough? “But the cost of that paper trail could swamp the small companies, sole proprietors freelancers forced to generate it. Pennsylvania business networking organization SMC Business Councils surveyed its members and found that they currently average 10 filings a year of 1099 forms. The new… rules would push that average…
I’m sure noticing the below. There’s actually very little to buy of what most investors are looking for of the S&P BBB or better, NNN, new build, single tenant with long lease variety. Bloomberg News – Commercial Property Sales