Jersey City Real Estate News
Jersey City
Commercial Real Estate Lending in U.S. Slowed in First Quarter
Based on new data from CBRE, the U.S. commercial real estate lending market slowed in Q1 2024 due to high interest rates and limited credit availability, but a tightening of credit spreads indicated signs of stabilizing.
Record High Monthly Housing Payments Put Chill in U.S. Spring Selling Season
Based on new data from Redfin, the median U.S. monthly housing payment hit an all-time high of $2,894 during the four weeks ending May 5, 2024, up 14% from a year earlier, and home prices rose 4.5% to their own record high.
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.
After Two Year Slump, Prime Multifamily Metrics Uptick in U.S.
Recent research from CBRE indicates that prime multifamily assets have seen a slight improvement in going-in cap rates, exit cap rates, and unlevered internal rate of return (IRR) targets in Q1, 2024.
