World News
Office Conversions on Pace to Double in U.S.
According to global property consultant CBRE, U.S. office conversions are on pace to more than double their recent annual average this year, with momentum picking up due to increased incentives and other support from state and local governments.
American Bankers See Weakening Credit Conditions Through End of 2024
Based on the American Bankers Association's latest Credit Conditions Index released this week, U.S. bank economists expect credit conditions to weaken over the next six months.
Hong Kong Office Vacancy Rates Stabilize After 4 Months of Increases
According to JLL's latest Hong Kong Property Market Monitor Report, the overall vacancy rate of Grade A office stayed at 12.8% as at end-August after it increased for four consecutive months since April 2023.
Palm Beach Area Residential Sales Uptick in August
Based on new data from the Miami Association of Realtors, greater Palm Beach County total residential sales increased year-over-year in August 2023.
Driven by High Mortgage Rates, Pending Home Sales Drop 13% Annually in September
National property broker Redfin reports that U.S. mortgage rates are sitting near a two-decade high and U.S. home prices rose 3% year over year during the four weeks ending September 17, 2023, pushing monthly housing payments to an all-time high.
