So Cal Multifamily Sales Pulse - November 10, 2024 - November 16, 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
| Trump’s Policies Set To Ripple Through Global CRE It includes an extension of 2017 tax cuts, increased government spending and targeted tariffs on China, Mexico, Canada and the European Union, including the UK. |
Multifamily Confidence Remains Low The share of respondents who thought overall market conditions were worse in Q3 fell. |
| Interest Rate Trajectory Still Unclear A look at past patterns is very telling. |
67% Of Parents Will Use BNPL To Finance The Holidays Parents are using pay later plans to justify large purchases and better manage their finances, according to a new survey. |
| Distressed CRE Market Tops $100B in Q3 Office properties made up about half of the market distress. |
Services Inflation is Still a Problem Services inflation is putting additional pressure on consumers. |
| Southern California Housing Market Update: Nov. 2024 Southern California home sales volume declined by -5.9% from September 2023 |
California Multifamily Building Owners Have Embraced Accessory Dwelling Units (ADUs) The ability to build more ADUs faster is thanks to new laws that remove barriers to construction and prefabricated off-site construction methods. |
| Multifamily Market Set for Modest Rebound as Fed Rate Cuts Ease Pressure Multifamily deal flow is expected to rise as rate cuts ease distress and unlocks new refinancing opportunities. |
‘Contradictions And Mixed Signals’ In The Economy Won’t Affect Holiday Sales Growth: NRF The trade organization is maintaining its holiday forecast for the year, stating that households are in decent financial shape. |
| NAR Predicts 6% Home Mortgage Rate Under Trump We did not get a home sales recovery this year after an awful 2023. |
Southern California To See Modest Rent Hikes By 2026, USC Says If accurate, the forecast says rents will be up an average $300 monthly since the pandemic in LA County and $600-$700 in the rest of Southern California. |
| CRE Braces For Higher Costs, Perhaps Inflation Stemming From Trump Tariffs Developers and builders are fretting over the possibility of material cost increases. |
U.S. Foreclosure Activity Increases In October 2024 Foreclosure Starts Increase 6 Percent from Last Month; Completed Foreclosures Increase 12 Percent from Last Month. |
| Multifamily CMBS Delinquency Rate Declines In October Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans fell in October, breaking a string of 5 consecutive monthly increases. |
Real Estate Market Recovery Expected as Soft Landing Becomes Economic Consensus Economic data remain strong and real estate values and performance seem to be nearing bottom. |
| Sentiment Index Reaches Highest Level Since 2021 Almost all respondents believe asset values will be higher or the same in a year. |
October Mall Traffic Bodes Well for Holiday Season Shopping Mall visits showed a sizable bounce-back from September. |
| CMBS Loan Losses Were Down in October It was the smallest monthly disposed loan amount over the last 12 months. |
Larry Summers Still Thinks Inflation Hasn’t Been Tamed The Federal Reserve doesn’t necessarily disagree. |
| Trump Tax Changes Could Significantly Impact CRE People will need to navigate a complex mix of implications. |
Multifamily Cap Rates Rebound, Sparking Fresh Investor Interest But they haven't translated into stabilized valuations. |
| Credit Data Shows: There’s No Housing Crash Coming Homeowners are in a great spot, with very little stress in the data |
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