Memphis Real Estate News
Memphis
Residential Real Estate Investor Activity Down 49 Percent Annually in U.S.
National property broker Redfin reports this week that real estate investors purchased 48.6% fewer homes in the first quarter of 2023 than they did a year earlier as elevated interest rates along with declining rents and housing values ate into potential profits.
Residential Mortgage Originations in U.S. Drop to Lowest Point in 23 Years
Based on ATTOM's latest quarterly 2023 U.S. Residential Property Mortgage Origination Report, just 1.25 million mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2023 in the United States - the lowest point since late-2000.
U.S. Office Vacancies to Peak in Late 2024, Says CBRE
According to a new report from CBRE, there is relief for the U.S. office market on the long-term horizon in the form of constrained new supply.
Mortgage Applications Dip Again in Late May
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending May 26, 2023, U.S. mortgage applications decreased 3.7 percent from one week earlier.
