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…
According to CoStar News, sales of commercial real estate in the United States reached $64 billion last year, which is the highest since 2004 and increased 22 percent from 2011. The price gains spread beyond multifamily into industrial, office and retail. Even commercial land showed signs of awakening mostly due to demand for multifamily with…
DQ News reported solid gains for the first month of 2013 with 16,058 new and resale homes sold in January. This number is down 20.8 percent from December 2012, but up 10.6 percent from a year ago, January 2012. It’s the highest home sales for a January in six years. The median price at $321,000…
CoStar News reports that new apartment construction at four or five times the national average for other types of commercial construction in certain markets will cause vacancies to increase. “Apartment construction has been on a tear in certain markets,” CoStar says. “With the inventory growing at more than four or five times the national rate,…
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…
New data show major rebound in both commercial and residential construction led almost entirely by multifamily and single family development. Developers and builders started construction on the highest number of single family homes and apartments since July 2008. Multifamily rose 10% in October 2012 to an annualized rate of 285,000 units. Single family building application…
CoStar’s CCRSI index show strong pricing gains across all commercial real estate segments for September 2012. Third quarter commercial real estate transactions closed with with strong pricing gains. CoStar’s two broadest indexes that measure aggregate pricing movement for commercial real estate properties, the CCRSI’s U.S. Value-Weighted Composite Index and the U.S. Equal-Weighted Composite Index, posted…
What I have been experiencing over the last two or three quarters in regards to triple net or absolute net, single tenant retail seems to be reality according many in the industry, including Mark Heschmeyer of CoStar News. Where are all of the net leased retail opportunities? There’s been strong activity over the last 18…
According to DQ News, home sales in Loa Angeles and Southern California rang in at 17,859, which is a 20.4 percent drop from the 22,438 sales in August 2012 and down 1.6 percent from 18,149 in September 2011. Although it’s normal for a sales drop from August to September, the steep drop this year is…
Commercial real estate prices posted major gains in July across all segments to further support the widely held view that we are at the beginning of a broad based recovery. The two broadest measures of property pricing in this month’s CoStar’s Commercial Repeat Sales Indices (CCRSI) shows big gains for both high end investment grade properties…
The National Association of Realtors sums it up pretty well in the attached August 2012 Commercial Real Estate Outlook when they opine that the economy has gone on vacation. That’s pretty much how I would describe it too. True, the triple net or absolute net, single tenant, national investment grade credit tenant retail is still…
According to DQ News Southern California home sale rose for the seventh consecutive month to 20,588 for the month. This was down 6.7 from the 22,075 in June, but up 13.8% from July of 20122. The median price also rose to $306,000 and that’s up from the $300,000 from June and up 8.1% from the…
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,…
I’m not saying that we’re quite back to pre crash levels of pricing but we’re getting there. Given the general malaise in the American economy with job growth, GDP growth and most other indicators, it’s surprising that the commercial real estate recovery has been as strong and broad based as it has. It didn’t start…
For April 2012, DQ News reported that 19,284 new and resale homes sold Southern California last month. That was down from March by 3.4% and up 5.1% from the 18,344 sold in April 2011. April’s median price was $290,000 for southern California, which is up 3.6% from $280,000 in March, and also up 3.6% from…
There are big differences on expansion plans for 2012 as we come out of this giant downturn and Obama Care goes into to full effect in 2014. To summarize: Rite Aid hopes to return to limited growth. Walgreens ramps up again after restrained growth over the last three years and CVS is full speed ahead….
Many folks are aware that Starwood Capital Group agreed to acquire $1 billion in seven shopping centers from Westfield and KKR. As Starwood is starting to acquire retail commercial real estate we expect other REITs to do the same across the country as an expected surge in new retail properties are expected to hit the…
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…