Min 1: Decade of Zero Construction Created Permanent Supply Constraint High costs in 2023 discouraged construction starts and ensured scarcity of new development deliveries in 2024 per CBRE analysis. Retail construction costs rose 6.5% in 2023 and increased further in 2024, albeit at slower rate. There has not been
Min 1: Build-to-Rent Development Became Primary Inventory Source Institutional investors focused on ground-up purpose-built development rather than acquisitions of existing properties, resulting in build-to-rent construction surge according to Arbor's Single-Family Rental Investment Trends analysis. Newly released U.S. Census Bureau data showed single-family rental development activity remained robust
Min 1: Atlanta Surpassed Northern Virginia For First Time in History Atlanta led all primary markets with 705.8 megawatts of net absorption in 2024, well above Northern Virginia's 451.7 megawatts per CBRE's year-end report. This marked first time any market surpassed Northern Virginia in
Min 1: Existing Home Sales Stay Frozen Below Five Million Fannie Mae forecast existing home sales at 4.25 million for 2025, up 4.8% from 2024's 4.06 million but still down 20.3% from 2019 levels. Increased inventory rose 19.1% year-over-year to 1.37 million
Min 1: Supply Peak Hits Now But Future Pipeline Evaporated Arbor reported 98.6 billion dollars in multifamily sales through the first nine months of 2024, up 6.6% from the prior year. The 12-month average cap rate held at 5.7%, below historical averages and nearly unchanged year-over-year. Investment
Min 1: Return-to-Office Mandates Reached Tipping Point Amazon announced its five-day in-office requirement in September 2024, catalyzing a corporate wave. NBCUniversal, Microsoft, and Starbucks followed with escalated requirements, some offering exit packages for noncompliant workers. The shift from voluntary returns to mandatory policies changes space demand fundamentally. Office visits reached
Min 1: Supply Peak Already Passed While Demand Accelerates Construction starts hit their eighth consecutive quarter of decline in Q4 2024 according to Newmark's industrial market report. Developer liquidity constraints from higher borrowing costs and reduced bank lending drove the pullback. Ares Management expects new deliveries to fall
Min 1: Albany and Rochester Lead National Value Gains Albany's aggregate home value rose 11.3% to cross $110.7 billion. Redfin confirmed the data showing Rochester climbed 11.2% to $124.3 billion. Newark added 11.1% to hit $410.8 billion while Buffalo gained 11% to
Min 1 Sellers outnumbered buyers by 36.8 percent in October according to Redfin, the largest gap in records dating back to 2013. That buyer-to-seller ratio marked the strongest buyer's market in housing in more than a decade. Yet cost remained the primary obstacle as 75 of top
Min 1 Homebuilder unsold completed inventory hit 16-year high according to ResiClub while builders aggressively offered incentives. Rate buydowns, closing cost credits, and smaller more affordable homes became standard. New home sales remained bright spot averaging 682,000 annualized pace in 2024 versus 595,000 between 2015 and 2019 according
Min 1 Nominal wage growth exceeded home price growth for first time since 2011 according to Fannie Mae economists. Home price appreciation projected at 3.6 percent in 2025 compared to 5.8 percent in 2024 while wage growth remained steady. That crossover created slow gradual affordability improvement nobody recognized
Min 1 Home prices fell in over half of US states in early 2025 particularly in Sun Belt according to mid-year housing analysis. Markets that heated most during pandemic saw steepest declines while Northeast and Midwest showed modest gains. Austin declined 13 percent from peak while Phoenix, Tampa, and Dallas