Rental rates barely moved—up just $0.03 this quarter, staying mostly steady overall.
Vacancy holds steady at 20.3% thanks to less construction and office conversions.
No new office buildings delivered in a year; inventory shrinks through conversions.
Negative net absorption continues for 14 quarters, driven by many small office downsizes.
Class A rents rose to $59.95/SF, while Class B rents dropped slightly this quarter.
Navigating the homebuying process can be challenging for newcomers. It's essential to understand that while mortgage interest rates matter, other factors like loan size, down payment, and additional costs (e.g., insurance, taxes) also significantly impact monthly payments. Start saving for a down payment early, especially if your income varies. The homebuying process involves steps like pre-qualification, pre-approval, house hunting, and closing. A mortgage loan officer can provide valuable guidance throughout this journey.
US home prices ↑ 19.8% cumulatively from 2025 to 2029, averaging ↑ 3.7% annual growth.
Annual growth accelerates to ↑ 10.8% by 2027, then reaches ↑ 19.8% cumulative increase in 2029.
Optimistic forecasts predict up to ↑ 31% total growth by 2029, pessimistic as low as ↑ 0.6% in 2025.
Mortgage rates expected to stabilize between 6.4%-6.6% by end of 2025, influencing demand.
Tight inventory persists, supporting steady price growth despite affordability challenges through 2029.
Buying your first home can be straightforward with the right guidance. Key steps include ensuring you're ready to commit, preparing your finances, maintaining your credit, and getting pre-qualified for a mortgage. Hiring a realtor can simplify the process, while a home inspection is crucial to identify potential issues. Be aware of extra expenses beyond the down payment, including closing costs and homeowners insurance. Additionally, explore first-time homebuyer programs to assist with financing options.
Happy Labor Day!
Labor Day is a day dedicated to honoring the contributions and achievements of workers and the labor movement.
It marks summer's informal end in the U.S., as schools often start after the holiday.
It offers a chance to ponder the historical strides in workers' rights and labor advancements.
Cheers to hardworking individuals on Labor Day! Your impact is truly appreciated. Thank you!
Happy Labor Day! Relax, Enjoy, and Make the Most of This Special Day!
Selling your home quickly involves several strategies to enhance appeal and attract buyers. Key tips include selecting an effective selling strategy, hiring an experienced agent, and ensuring the home is clean and depersonalized. Maximizing natural light, decluttering, and staging can significantly improve impressions. Professional photography and 3D tours are essential for online listings. Curb appeal matters, so invest in exterior updates. Flexibility with showings and setting a competitive price are crucial for a swift sale.
Mortgage rates may stay flat, drop, or rise to 8% — timing remains unpredictable.
Bond market turmoil, rising debt, and oil shocks could push mortgage rates beyond 8%.
A Treasury yield surge to 6% from 4% could spark mortgage rates above 8%.
Fixed-rate mortgages stay stable; only adjustable-rate loans rise with changing interest rates.
At 8% rates, 850K fewer U.S. households can afford a median $460K home.
The experts forecast a 3% national housing price increase in 2025 due to limited supply.
High mortgage rates discourage homeowners from selling, keeping supply low and supporting price stability.
High mortgage rates in 2025 slowed home sales, but improvement is expected starting in 2026.
Experts predict existing home sales may ↑ 10–15% as conditions improve in 2026.
National home prices steady; slight dips in overheated regions; supply shortage and low turnover prevent dramatic market collapse.
Most homeowners locked into low rates; this “golden handcuff” effect limits inventory, holding prices stable despite high mortgage costs.