Charlotte Real Estate News
Charlotte
Driven by High Rates, U.S. Commercial Lending Imploded 47 Percent in 2023
In 2023, total commercial real estate mortgage borrowing and lending was estimated at $429 billion, marking a 47 percent decline from $816 billion in 2022, and a 52 percent fall from the record high of $891 billion in 2021.
U.S. Mortgage Originations Predicted to Hit $1.95 Trillion in 2024
According to the Mortgage Bankers Association, total U.S. mortgage origination volume is expected to increase to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023.
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.
As Summer Travel Season Winds Down, U.S. Gas Prices Rise Again
With summer vacation season winding down in August, the national average for a gallon of gas awoke from a months-long slumber, surging 13 cents in the last week of July to $3.71, says AAA.
