Day: November 1, 2022

Share of homebuyers looking to switch metros rises to new high

With mortgage rates soaring, the share of Redfin.com users who were looking to move to a different metro area in the third quarter rose to 24.2% — a new record high. This figure is up from 23.3% in second-quarter 2022, 21.6% in third-quarter 2021 and 18% in pre-pandemic days. The heightened interest rate environment has […]

Lack of space still driving industrial rents upward, especially in port markets

With industrial space still at a premium nationwide and demand remaining high, tenants in this commercial real estate sector continue to pay increasingly higher rents as available properties dwindle, according to the newest U.S. industrial report from Yardi Matrix. The national vacancy rate for industrial properties was 4.1% in September, helping to drive average rents […]

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What happens when Wall Street buys Main Street?

Companies that buy and rent single-family homes have drawn increased scrutiny over the past year. At a congressional hearing in July, a Houston real estate agent urged lawmakers to act because institutional investors are “creating a generation of renters” who will miss out on the benefits of homeownership. Although there is some evidence that institutional […]

Higher costs limit demand for many types of mortgages

Housing markets across the nation are facing significant rebalances since the upward surge in mortgage interest rates starting in March 2022. At the beginning of the year, many experts predicted a modest increase in mortgage rates to a level of about 4%. Nevertheless, as elevated inflation (and inflation expectations) over the past year ignited fears […]