Tallahassee Real Estate News
Tallahassee
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.
Half of U.S. Home Sellers Now Cutting Prices to Lure Buyers
According to National property broker Redfin. U.S. home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin during the three months ending February 28, 2023.
U.S. Home Builder Confidence Upticks in March as Uncertainty Grows in 2023
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released this week, U.S. builder confidence in the market for newly built single-family homes in March rose two points to 44. This is the third straight monthly increase in builder sentiment levels.
