So Cal Multifamily Sales Pulse - September 1, 2024 - September 7, 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
| Recession Forecasts Have Been Wrong For Years. Here's Why A 'Perfect Indicator' Doesn't Exist. It hasn't been a great time for folks in the business of predicting recessions. |
Landlords Face $1.5T Maturity Wall Before 2026 About 25% of that amount will be hard to refinance. |
| Apartment Earnings Point to Continued Momentum Strong demand during the first quarter carried forward into peak leasing season. |
US Small Business Surges, Sentiment Improves, Treasury Report Says The U.S. is averaging 430,000 new business applications per month so far in 2024. |
| Wells Fargo Chief Economist: CRE Can Rebound On A Single Rate Cut, But Lending Will Be Slower To Move The impact of the first rate cut in more than four years could be mostly psychological. |
Rite Aid Exits Chapter 11 With Its Store Fleet Slashed In US Drugstore Shakeout Pharmacy chain now has roughly 1,300 stores following restructuring. |
| Residential Mortgage Originations Spike in Q2 A cautionary note is warranted, as we shouldn't read too much into one great quarter. |
Banks Have Cut Lending to Homebuilders By 10% This represents the biggest credit crunch for homebuilders in more than a decade. |
| Big Maturity Wall in 2025? Wait Until You See the $5.5T Through 2028 There is an ongoing maturity wall of more than $1 trillion through at least 2028. |
Fitch: Distress in Office, Multifamily Loans Still Playing Out The largest U.S. banks remain in the best position to weather further loan performance declines for office and multifamily. |
| Housing Market Picks Up, With Sales Near Two-Year High Southern California home prices held steady at all-time highs, with sales rising from last year's lows, CoreLogic's figures show. |
Fed Rate-Cut Size This Month To Hinge On Job Market Health Analysts largely expect the Fed to stick to a quarter-point reduction, given that employers have continued to hire although at a slower pace than before. |
| Demand for Multifamily Deals on the Rise Low supply in a key market is helping the recovery. |
CRE Delinquencies Accelerate As Industry Waits for Rate Relief The overall delinquency ratio for CRE loans has reached 1.450%. |
| Fed Beige Book Reveals a Slowing Economy Commercial real estate activity has been mixed across the districts. |
The Actual Effect of Federal Elections on Commercial Real Estate The assumption is that in a federal election year, just about everything is put on hold—including commercial real estate activity—until a new president is elected. |
| California Rent Control Battle Goes To The Ballot Voters shot down similar rent control propositions in 2018 and 2020, but advocates are hoping this year will be different. |
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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Long Beach
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Los Angeles County
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San Diego County
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Riverside County
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San Bernardino County
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