According to CBRE research, the 43-year average age of existing U.S. warehouse inventory--nearly 28% or 3.4 billion sq. ft. of which is more than 50 years old and at risk of functional obsolescence--justifies the nation's record 627 million sq. ft. of new warehouse space currently under construction.
According to the National Association of Realtors, existing-home sales in the U.S. experienced another dip in August 2022, marking the seventh consecutive month of declines.
National broker Redfin reports that as U.S. mortgage rates reach 6 percent, seasonally-adjusted new listings of homes for sale have fallen 8% from July to August 2022 to their lowest level since May 2020, when the housing market was paralyzed by the onset of the COVID-19 pandemic. Prior to the pandemic, we hadn't seen so few homes hit the market since November 2012.
According to the Mortgage Bankers Association's latest Commercial/Multifamily Delinquency Report, U.S. commercial and multifamily mortgage delinquencies declined in the second quarter of 2022.
According to national property broker Redfin, nearly one-third (31.4%) of U.S. home purchases were paid for with all cash in July 2022. That's near the eight-year high reached in February and up from 27.5% a year earlier. The share of all-cash purchases jumped in early 2021 during the pandemic-driven homebuying frenzy and has remained elevated since then.
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