Wholesale Real Estate

Charlotte, North Carolina, Has Most New High-end Rental Property, Data Shows High-end rental properties account for 87 percent of all apartment construction in the U.S., but in Charlotte, North Carolina, 100 percent of new apartment projects are high-end, according to research by analytics firm Yardi Matrix and online rental site RentCafé. High-end properties are units class B+ or above.

CRE Investors Target Cities with Millennials, Start-up Culture: Report Dallas; Brooklyn, New York; and Orlando, Florida; top the list of cities that commercial real estate investors target due to their young workforce, business-friendly environment and active start-up culture, according to a joint report from consulting firm PwC and nonprofit Urban Land Institute.

Sacramento, California, Sees Biggest Drop in Available Home Inventory As inventory of available homes drops nationwide, Sacramento, California, has seen the largest reduction in available inventory, according to square footage, over the past three years, Realtor.com reported Oct. 1. Charlotte, North Carolina, and Indianapolis were second and third on the list, respectively.

Existing Homes Sales Past Peak, Affordability Falls: Bank of America Sales of existing homes peaked last year and are no longer a positive force on the economy amid continued affordability challenges, according to Bank of America Merrill Lynch economists, HousingWire reported Oct 1.

Home Affordability Lowest Since 2008 as Mortgage Rates Rise: Report Home affordability hit a 10-year low in the third quarter, as high mortgage rates have pushed home prices higher, analytics firm ATTOM Data Solutions reported Oct. 4. Nearly one-third of Americans now live in counties that require at least $100,000 in annual income to purchase a home.

Green Bay Packers Get Aboard Real Estate Development Bandwagon The Green Bay Packers announced Oct. 3 that they will build more than 200 homes a block from their stadium, Lambeau Field, joining other National Football League teams that have expanded into real estate development, Bloomberg reported. The properties are the second phase of a mixed-use project that includes a hotel, brewpub, sports medicine center and tech innovation lab.

Mortgage Rates See Biggest Year-over-Year Increase in 4 Years Mortgage rates during the past week saw their biggest year-over-year increase since May 2014, largely due to increased consumer credit and job growth, Freddie Mac reported Sept. 13 in its Primary Mortgage Market Survey.

Lenders Worry About Continued Drop in Mortgage Demand: Fannie Mae Lenders participating in the Q3 Mortgage Lender Sentiment Survey released Sept. 13 by Fannie Mae said they anticipate the worst purchase mortgage demand for a third quarter in the survey's history. They also foresee net-negative profit margins for the eighth consecutive quarter, blaming the compression on competition from other lenders.

Beige Book Shows Housing Activity Slows. Home sales through the end of August slowed in some Fed districts due to lower demand and reduced inventories.

Mortgage Fraud Rose Sharply During the Second Quarter, CoreLogic Reports The risk for mortgage fraud jumped 12.4 percent year-over-year in the second quarter, according to the Mortgage Application Fraud Index released Sept. 13 by analytics firm CoreLogic, HousingWire reported. The index includes data for such fraud indicators as identity, income, occupancy, property, transaction and undisclosed real estate debt.

Three Texas Cities Top List of Best Markets to Buy a House, Data Shows The three best overall markets to buy a house are the Texas cities of Frisco, McKinney and Allen, according to a study released Sept. 5 by credit ratings firm WalletHub. Large cities with the best housing markets are Seattle, Denver and Fort Worth, Texas.

Mortgage Rates Rise for Second Week Mortgage rates were up slightly for the second consecutive week and are now three quarters of a percentage point higher year-over-year, Freddie Mac reported Sept. 6 in its Primary Mortgage Market Survey. Higher prices and lack of inventory are expected to slow activity this fall.

Government Regulations Make Up 33 Percent of US Multifamily Costs: NAHB Excessive regulation accounts for almost one-third of a multifamily project's development and building costs, and translates into higher rents and reduced affordability for consumers, the National Association of Home Builders stated Sept. 5 in testimony before the House Financial Services Subcommittee on Housing and Insurance.