Pittsburgh Real Estate News
Pittsburgh
Orlando Leads the Nation is Highest Annual Home Rent Growth
According to CoreLogic's latest Single-Family Rent Index, U.S. annual single-family rent growth continued to slow year over year in January 2023, declining for the ninth straight month to 5.7%.
U.S. Builders Continue to Grapple with Increased Housing Market Uncertainty in 2023
The National Association of Home Builders is reporting this week that U.S. single-family production remained at an anemic pace in February 2023, as builders continue to wrestle with elevated mortgage rates, high construction costs and tightening credit conditions that threaten to be exacerbated by recent turmoil in the banking system.
Commercial Property Cap Rate Expansion Likely to Continue in 2023
According to a new CBRE survey, U.S. capitalization rate expansion is likely to continue in the short-term for most real estate asset types, but could peak later this year and should decrease in 2024 as the end of the Federal Reserve's rate-hiking cycle is anticipated.
February U.S. Home Prices Experience First Annual Drop Since 2012
According to national property broker Redfin, the median U.S. home price fell 1.2% in February 2023, marking the first year-over-year decline since 2012. Sellers have been forced to lower their expectations because high mortgage rates have put homebuyer demand on ice.
