So Cal Multifamily Sales Pulse - June 16, 2024 - June 22, 2024
Disclaimer: All information contained herein is obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only. We make no claim(s) as to the accuracy or reliability of the information presented. If you wish for us to analyze your specific property or situation please feel free to call or email us anytime.
Here's What's Happening In The Market, Here’s What This Means For You
| Super Cheap Rates Could Come Back in This Scenario It all depends on who is right about R-Star. |
Multifamily Investment Market Shows Improvement The hike in the latest AIMI marked a sharp reversal from its decline in the previous quarter. |
| As Interest Rates Rise, CRE CLO Distress Jumps to 9.74% The office sector remains the most distressed, with a rate of 16.8%. Multifamily loans have a distress rate of 13.3%. |
Fed Officials Steer Cautiously Toward Potential Rate Cuts Federal Reserve officials, heartened by recent data, are looking for further confirmation that inflation is cooling. |
| Trepp: Delinquencies Increase Again As Servicing Rate Rises There was $245 million in newly delinquent multifamily loans during the month of May. |
Goldman Sees US Jobs at Inflection Point, Sticks to Two Cut Call The US labor market stands at a potential “inflection point” where any further softness in demand for workers will hit jobs, not just job openings. |
| U.S. CRE Prices Post Annual Declines Again in May Apartment prices dropped 8.9% Y-O-Y and 1% from a month ago, which would equal 11.9% at an annualized rate. |
CMBS Bondholders Left In The Dark As Valuations Tumble Bondholders are growing skittish as they watch real estate investments flounder while special servicers continue to kick the can down the road. |
| Banks Face $141 Billion In Commercial-Real-Estate Losses We think banks are able to handle and manage the necessary loan losses as they occur using existing loan loss reserves. |
A Potent Sign that CRE Capital Markets Are Weakening Mortgage debt goes up significantly while originations are slow. |
| US Housing Starts Fall To Lowest Level Since 2020 Builders Contend With Higher Interest Rates, Chronic Labor Shortages. |
'It's Better For Humans In General': The Four-Day Workweek Is Closer Than You Think. Software companies, big conglomerates and even police departments are experimenting with a concept that no longer feels like a far-fetched fantasy. |
| When CRE Deals Use Seller Financing Some big sellers are becoming banks for the buyers, though there are tradeoffs. |
Does CRE Have a Stagflation Problem? CoStar Group seems to think so. |
| Apartment Rent Growth Expected to Decelerate Further in Second Half of 2024 U.S. multifamily rent growth and occupancy have deteriorated since peaking in 2022. |
US Wholesale Prices Dropped In May, Adding To Evidence That Inflation Pressures Are Cooling The latest sign that inflation pressures in the United States may be easing as the Federal Reserve considers a timetable for cutting interest rates. |
| Home Sales Shrivel In Socal During The Slowest Two Years On Record With only 15% of residents able to buy, house deals run 33% below the 37-year average. |
Regional Banks Retreat as CRE Loans Mature How the stepped-up risk of bank defaults is impacting new financings and existing loans. |
| Mortgage Demand Flattens Even As Interest Rates Hit The Lowest Level Since March Mortgage rates moved a little bit higher to start this week but then pulled back Tuesday after weaker-than-expected retail sales data. |
Commercial Mortgage Debt Spikes Due to Slow Loan Payoffs Difficult refinancings and late payoffs have led to higher outstanding commercial and multifamily debt levels across lender categories, despite fewer originations. |
If you're looking for currently available multifamily properties visit:
https://www.mikelembeck.com/search-the-mls
for access to all available multifamily listings throughout Southern California.
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