Phoenix Real Estate News
Phoenix
U.S. Housing Starts Dive 14.7 Percent from High Interest Rates in March
In March 2024, housing starts declined by 14.7% to a seasonally adjusted annual rate of 1.32 million units, influenced by higher-than-anticipated interest rates and persistent inflation, as reported by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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.
Most U.S. Homebuyers in the Dark About Agent Commissions
According to recent data from national property broker Redfin, a significant portion of U.S. homebuyers are in the dark about their real estate agent's compensation: 28% are unaware of the payment amount, 17% do not know how this figure was determined, and 19% are uncertain about who actually pays their agent.
Rising U.S. Mortgage Rates Further Discourage Future Homebuyers in April
This week's increase in U.S. mortgage rates has added to the skepticism about any significant reductions in interest rates for prospective homebuyers in the near future.
