The WPJ

Pittsburgh

Nonresidential Construction Spending Falls 0.5 Percent in the U.S.

According to the Associated Builders and Contractors trade association's analysis of data published by the U.S. Census Bureau, national nonresidential construction spending was down by 0.5% in June 2022.

Mortgage Application Payments Hold Steady in June, Despite Higher Rates

According to the Mortgage Bankers Association's Purchase Applications Payment Index, U.S. homebuyer affordability was mostly unchanged in June 2022, with the national median payment applied for by applicants down slightly to $1,893 from $1,897 in May 2022.

U.S. Tenants Gravitating to Higher Quality Offices in Response to Hybrid Work

According to global property consultant CBRE, there is a "flight to quality" playing out across 12 major U.S. markets as office-using companies adapt their workplaces for hybrid work.

U.S. Housing Markets with Steep Price Increases During Covid Most Susceptible to Housing Downturns in a Recession

Popular migration destinations where home prices soared during the pandemic are most likely to see the effects of a housing downturn amplified and home prices decline year over year if the economy goes into a recession.

Pittsburgh Property News



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