So Cal Multifamily Sales Pulse - June 2, 2024 - June 8, 2024
Disclaimer: All information contained herein is obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only. We make no claim(s) as to the accuracy or reliability of the information presented. If you wish for us to analyze your specific property or situation please feel free to call or email us anytime.
Here's What's Happening In The Market, Here’s What This Means For You
| More Renters Are Staying Put Longer One in six are now staying in their rental unit for 10 years or more. |
CRE Loan Delinquencies Growth Is Slowing It's a bad news/good news situation. |
| Is Multifamily Investment Finally Thawing? The debt and equity markets may be loosening, though we’re still nowhere near recovery. |
Supply of Distressed Homes Remains Flat, But Investors Soon Could Benefit Number of Vacant Residential Properties Unchanged in Second Quarter, New Report Shows. |
| Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand More home sellers are cutting their asking price, suggesting sale-price growth could soften in the coming months. |
Property Prices Fell To Start Quarter, but Signs of Improvement Emerge Average Deal Size Increased in April While Sales Closed Faster, CoStar Data Shows. |
| Getting Ahead of the Future Deloitte has issued its 2024 Financial Services Industry Predictions. |
SoCal Sees Home Sales Rise 11.3% Annually In April Prices jumped from 7% to 21% in all six counties. |
| A New Worry: Consumer Spending Slowdown Consumer spending represents between 68% and 69% of GDP; a slowdown would have big implications. |
How CMBS Loans Are Being Modified Currently it looks as though the number of modifications will continue to rise at least for now. |
| The American Dollar Store Has Fallen On Hard Times Supermarket successes at Walmart and Aldi are a problem for all these low-cost retailers. |
Struggling Apartment Developers Pause More Construction Projects Developers are halting projects across the country as high interest rates and stagnant rents make new apartment constructions financially unfeasible. |
| US Weekly Jobless Claims Edge Higher, Q1 Labor Costs Revised Lower The labor market has been steadily rebalancing back toward pre-pandemic levels after the Fed raised interest rates by roughly 525 basis points since March 2022 to slow demand in the overall economy. |
Fed To Cut Rates Twice This Year, Starting September - Reuters Poll Economists in Reuters surveys over the past few months have remained consistent in predicting two cuts, unlike markets which until last week were pricing in one. |
| September Rate Cut Odds Are Rising Around 78% of investors expect the Fed to cut rates in the month |
CoreLogic: US Homeowners See Equity Increase to Nearly All-Time High in Q1 U.S. homeowners with mortgages saw home equity increase by 9.6% year over year. |
| L.A. County Moves to Cap Rent Hikes in Unincorporated Areas Supervisors want to limit increases for most rent-controlled units to 3% a year. |
Homebuyers Starting To Revolt Over Steep Prices Sellers are grappling with the fact that higher-for-longer rates are choking off demand. |
If you're looking for currently available multifamily properties visit:
https://www.mikelembeck.com/search-the-mls
for access to all available multifamily listings throughout Southern California.
Orange County
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Closed Sales from last week
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Long Beach
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Closed Sales from last week
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Los Angeles County
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Closed Sales from last week
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San Diego County
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Closed Sales from last week
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Riverside County
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Closed Sales from last week
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San Bernardino County
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Closed Sales from last week
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