New York City
Real Estate News

Last Updated May 24, 2019 9:00 AM ET

New York City Property News

According to CBRE, commercial lending activity in the U.S. was strong in the final quarter of 2018, despite recent equity market volatility.

Sales of new homes in all four major U.S. regions significantly declined in the last two months of 2018. The year-over-year trend was especially drastic in the Northeast, where new-home sales fell by 16.1 percent in December.

According to JLL's latest research, Flexing Their Muscles: Markets to Watch in 2019, the U.S. office market is poised to take on significantly more office flex space in the coming year.

The Dow Jones Industrial Average finished 2018 down 3.5% and lost 13% of its value between October 2018 and December 2018 alone -- its worst annual performance since 2008. The downturn rippled through world equity markets.

Commercial and multifamily mortgage originators in the U.S. expect 2019 to be another strong year in lending activity.

Commercial/Multifamily DataBook, as researched by Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research; the overall U.S. economic strength in the first three quarters of 2018 has further tightened the job market.

According to a new housing market report by the New York State Association of Realtors, statewide in New York, the median home sales price continues to trend on a positive note, rising sharply in November 2018.

According to the U.S. Department of Housing and Urban Development, sales of newly built, single-family homes in the U.S. fell to a seasonally adjusted annual rate of 544,000 units in October 2018, after an upwardly revised September report.

According to JLL's Residential Sales Market Monitor released this week, the first day sell-through rates for newly launched mass residential projects (where over 80 units were launched in the first batch of sales) dropped significantly in October 2018.

Manhattan's most popular retail corridors experienced widespread asking rent declines in the fall of 2018. Out of the 17 high-profile corridors, 15 posted year-over-year decreases in ground floor retail average asking rents per square foot

The American Automobile Association is predicting over 54.3 million Americans will journey 50 miles or more away from home this Thanksgiving, a 4.8 percent increase over last year.

This week Amazon announced their final selection for the location of their second headquarters. In a change to the original plan, Amazon decided to split the location of their new headquarters between two cities choosing New York and Northern Virginia.

According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending November 9, 2018, U.S. mortgage applications decreased 3.2 percent from one week earlier.

According to CBRE, U.S. retailers will seek to cap a strong year this holiday season by doubling down on strategies to draw online shoppers into stores, reward their loyalty in new ways and ensure that toys are available at every turn.

According to data from CBRE, demand for commercial real estate debt in the U.S. remains strong, supported by an increase in commercial sales transactions in Q3 2018.

According to Freddie Mac's most recent Primary Mortgage Market Survey for November 2018, U.S. mortgage rates dropping slightly after last week's increases.

Strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017, as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units.

Demand from technology tenants in New York City remains steady as the sector experienced a more than 12 percent increase in local job growth over the past two years.


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