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Mortgage Applications Increase in Early August

Mortgage Applications Increase in Early August

Based on the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending August 7, 2020, U.S. mortgage applications increased 6.8 percent from one week earlier. Read More »


Tech Office Leasing Implodes 46 Percent from Coronavirus Outbreak in U.S.

Tech Office Leasing Implodes 46 Percent from Coronavirus Outbreak in U.S.

According to a new report by CBRE, office momentum in the U.S. slowed in the second quarter of 2020 for technology companies' leasing of commercial space, though a few markets posted sizable gains in activity. Read More »

Missed Residential Rents Balloon in U.S. as Government Aid Soon Expires

Missed Residential Rents Balloon in U.S. as Government Aid Soon Expires

Boosted government unemployment aid has expired, meaning those numbers are likely to rise even further in coming months. Read More »

Urban Rent Slowdown From COVID Signals Consumers New Interest in Suburbs

Urban Rent Slowdown From COVID Signals Consumers New Interest in Suburbs

Rent prices in urban areas have slowed more than those in suburban areas, signaling that renters' preferred location in a COVID-19 world is now tilting toward the suburbs. Read More »


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Global Property Spotlight

Cap Maison Resort - (St. Lucia, West Indies)

Cap Maison Resort - (St. Lucia, West Indies)

On the Caribbean island of St.Lucia, known worldwide for its natural beauty, Cap Maison is in a truly breathtaking location in one of St.Lucia's most desirable areas. Read More »

Last Updated August 12, 2020 8:15 AM ET

New York City Property News

Much weaker commercial real estate investment volumes in the second quarter of 2020 reflect the impact of lockdown measures and border controls enacted to combat the COVID-19 crisis.

Redfin is reporting this week that condo sale prices in the U.S. dropped 1.4% year over year to a median of $252,000 in June 2020.

Record low 165,530 U.S. foreclosure filing recorded in first half of 2020, as 13 million evictions loom later this year. Down 44 percent from the same time period a year ago.

Pending home sales continued to ascend in June, 2020 sustaining two consecutive months of increases in contract activity. Each of the four major regions experienced growth in month-over-month pending home sales.

According to New York-based Rudder Property Group's biannual office condominium report for the first half of 2020, Manhattan office condo sales significantly declined in the first half of 2020, as sales prices dipped.

Global property consultant CBRE is reporting that the amount of office space offered for sublease in the 10 largest U.S. office markets has increased by 12 percent since the COVID-19 pandemic forced a shutdown of local economies in March 2020.

According to the National Association of Realtors, existing-home sales rebounded at a record pace in June 2020, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic.

The total number of U.S. loans now in forbearance decreased by 38 basis points from 8.18% of servicers' portfolio volume in the prior week to 7.80% as of July 12, 2020.

According to Freddie Mac's latest Primary Mortgage Market Survey for Mid-July 2020, the 30-year fixed-rate mortgage in the U.S. averaged 2.98 percent, the lowest rate in the survey's history dating back to 1971.

New York City's retail sector experienced significant deceleration in leasing activity in the first half of 2020 intensified by the COVID-19 pandemic, and ongoing social protests.

Mortgage applications for new home purchases in the U.S. increased 54.1 percent compared from a year ago. Compared to May 2020, applications increased by 20 percent.

This represents a 2.5-percentage point increase in the overall delinquency rate compared to March 2020, when it was 3.6 percent.

According to the Mortgage Bankers Association's latest Mortgage Credit Availability Index (MCAI), U.S. mortgage credit availability decreased in June 2020.

A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent in the U.S., the lowest rate in the survey's history dating back to 1971.

Zillow is reporting this week that a rush of high-end homes hit the U.S. market in June 2020, reversing a trend that saw them drop the farthest and fastest when the coronavirus pandemic hit earlier this year.

According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending July 3, 2020, U.S. mortgage applications increased 2.2 percent from one week earlier.

15.9% of Black Americans who apply for mortgages are rejected nationwide, compared with just 7% of white Americans.


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