Nashville Real Estate News
Nashville
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.
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.
U.S. Home Sales Dip 15 Percent Annually in August
Existing-home sales moved lower in August 2023. Among the four major U.S. regions, sales improved in the Midwest, were unchanged in the Northeast, and slipped in the South and West. All four regions recorded year-over-year sales declines.
Home Flipping Transactions Down in 2023, Profits Up
84,350 single-family homes and condominiums in the United States were flipped in the second quarter of 2023. Those transactions represented 8 percent, or one of every 13 home sales, during the months running from April through June of 2023.
