pending U.S. home sales rebounded strongly in October 2017 following three straight months of diminishing activity, but still continued their recent slide of falling behind year ago levels. All major regions except for the West saw an increase in contract signings last month.
According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 24, 2017, U.S. mortgage applications decreased 3.1 percent from one week earlier.
U.S. housing inventory constraints have fueled a sharp rise in prices and made it difficult for buyers to gain a foothold in the market. But that is expected to change next year as part of broader and continued housing market improvements.
The National Association of Home Builders is reporting this week that their latest Multifamily Production Index dropped 10 points to 46 in the third quarter of 2017. This is the lowest reading since the second quarter of 2011.
According to global property consultant Knight Frank, Prague was Central Eastern Europe's top performer for office investment in the first nine months of 2017, with a total of €746 million ($888 million USD) worth of assets transacted over this period.
Sales of newly built, single-family U.S. homes in October 2017 rose 6.2 percent to a seasonally adjusted annual rate of 685,000 units from a downwardly revised September 2017 reading.
Total European hotel investment volumes increased by 33% year-on-year, for the third quarter of 2017. This contributed to a 16% year-on-year increase on the year- to-date.
The U.S. delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.88 percent of all loans outstanding at the end of the third quarter of 2017.
The American Automobile Association (AAA) is estimating that 50.9 million Americans will journey 50 miles or more away from home this Thanksgiving, a 3.3 percent increase over last year.
According to the National Association of Realtors, existing-home sales in the U.S. increased in October 2017 to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month.
Nationwide U.S. housing starts rose 13.7 percent in October 2017 to a seasonally adjusted annual rate of 1.29 million units after a slight upward revision to the September reading.
According to Transwestern's Third-Quarter 2017 Office Market Report, after decades of stagnation, asking rents for office space in New Jersey are steadily rising and nearing an all-time high.
California's home sales lost momentum in October 2017 to post the first back-to-back annual sales decline in more than a year as a stubbornly low supply of available homes for sale continued to plague the market.
The retail industry of 2030 will provide tailored experiences for individual customers across any channel, at any place and at any time using data analytics and new technology. These changes will have a profound impact on the global retail property sector as well.
In the U.S., home builder confidence rose two points to a level of 70 in November 2017 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest report since March, and the second highest on record since July 2005.
NAHB chairman Granger MacDonald issued the following statement on the House passage of The Tax Cuts and Jobs Act today:
The willingness of tech companies to pay a premium for office space in the hottest tech submarkets is spilling over into neighboring submarkets as available office space dwindles.
According to ATTOM Data Solutions' Q3 2017 U.S. Home Equity & Underwater Report, at the end of the third quarter of 2017 there were 4.6 million (4,628,408) U.S. properties that were seriously underwater
Hong Kong led the Asia Pacific region by volume of hotel investment transactions, with 11 deals worth a total of nearly $1.5 billion in the year to September 2017.