So Cal Multifamily Sales Pulse - October 6, 2024 - October 12, 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
| Residential Market Reaches Inflection Point Amid Rising Inventory and Pending Sales Turnaround The fall in mortgage rates is boosting pending residential sales. |
Office Market May Have Hit Bottom After Wave of Discounted Sales An increase in transaction volume would confirm the industry's comfort level with current pricing. |
| No Quick Fix for CRE Refinancing Woes as Market Resets Blackstone's Jonathan Gray says improving values aren't enough to pull over-leveraged owners out of debt traps. |
Unexpected 254K Jobs Growth Probably Means Lower Rate Cuts As the Federal Reserve balances price stability and full employment, predictions of the future are a matter of luck. |
| Green Street Expects Further Appreciation in CRE Pricing The decline in bond yields over the past several months makes commercial property more attractive. |
Soft Landing? Hard Landing? Maybe It'll Be No Landing Bond traders are sending prices down, as yields rise. |
| Robust Employment Data Prompts Second-Guessing of Fed Strategy Larry Summers and others say a 50-basis-point rate cut was a mistake. |
Why Worry About Rates? We’ve Been Here Before There’s a familiar feeling among CRE investors about current market correction. |
| Homebuyer Sentiment Reaches Two-Year High Driven By Lower Mortgage Rates Economists say high home prices are still holding up market. |
‘Economy Grows Either Way’: Peter Linneman On The Election, Interest Rate Cuts Nearly 81% of voters have said the economy will have a significant impact on how they cast their vote in November. |
| Southern California Home Prices Dip From From Record High It was the slowest August on record, with prices up by the smallest margin in nearly a year, CoreLogic reported. |
Rents Continue to Decline in Most Major Cities The national median rent today is $10 per month cheaper than it was a year ago. |
| Inflation Slowed Again, New CPI Report Shows: Will The Fed Keep Cutting Rates? With inflation seemingly headed toward the Fed’s 2% target, it likely would take an unusually weak, or strong, labor market to alter officials’ blueprint for quarter-point rate cuts. |
Recession Since 2022: US Economic Income and Output Have Fallen Overall for Four Years In this study we aim to quantify some of the more egregious biases in inflation statistics in order to get us closer to a true understanding of inflation. |
| UCLA Anderson: Subpar 2024 Growth in CA, Followed by 2025-26 Acceleration The current slower growth results from specific sectoral weaknesses in California, evinced by its high unemployment rate. |
Prop 33: Contentious California Ballot Measure Over Rent Control The debate over housing affordability has become more divisive as supporters and opponents launch nasty attacks against each other. |
| Could Recent Black Swan Events Reignite Inflation? Hurricanes, Middle East conflict and port disruptions could also weigh on economic growth. |
Foreclosures Ease in The Third Quarter The rate of foreclosure filings fell despite sharp increases in some states. |
| Overall Inflation Continues Down But Core Rises Over Previous Month It's a mixed bag that won't make the Fed feel entirely warm and fuzzy. |
Commercial Real Estate Market Shows Signs of Revival Declining borrowing costs draw potential buyers and sellers back into the fold. |
| Traders Keep Bets On 25 Basis Point Fed Rate Cuts In November, December Financial markets priced in a 17% chance that the Fed will leave its target for short-term borrowing costs in the current 4.75% to 5.00% range. |
Fed Officials Signal More Rate Cuts, Bostic Open To A Skip Slowly cooling inflation and a U.S. job market that remains strong but at risk of deteriorating give a green light for more interest-rate cuts in coming months. |
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