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$3.36 Billion in Sales
U.S. Real Estate Market Cooling Trends Multifamily Demand Reaches 24-Year High Real Estate Deals Cancelling at Last Minute
In This Edition
U.S. Real Estate Market Cooling Trends
Multifamily Demand Reaches 24-Year High
Real Estate Deals Cancelling at Last Minute
and more inside
Regional: $3.36 Billion in Sales
Mortgage & REITS
30-Yr Fixed RM | 6.62% | - 0.08% |
15-Yr Fixed RM | 6.15% | - 0.07% |
30-Yr FHA | 6.13% | - 0.16% |
30-Yr Jumbo | 6.80% | - 0.10% |
7/6 SOFR ARM | 6.33% | - 0.07% |
30-Yr VA | 6.15% | - 0.15% |
Average going rates as of Aug 1st 2024 closing
S&P 500 | 5,446.68 | - 1.37% |
S&P REIT | 355.10 | + 1.12% |
FTSE NAREIT | 789.06 | + 1.33% |
Numbers as of Aug 1st 2024 closing
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Key Trends
U.S. Real Estate Market Cooling Trends and Regional Hot spots. Click for full list
The U.S. real estate market experienced a significant cooldown in 2023 after a nearly 50% surge in home prices during the pandemic. Higher interest rates and inflation have limited buying power, with home prices declining by 4.1% in April 2023 before rebounding by 4.0% by December 2023.
The Northeast and California remain hot markets, with Rhode Island and cities like San Jose leading the charge. Despite high costs, tight housing supply and regulatory challenges drive demand. Conversely, Texas and Mountain West cities have cooled off, with cities like Austin and Denver dropping in market activity rankings.
Home sales saw a roller coaster ride, with a record high increase of 49.8% in May 2021 followed by a sharp decline of 35.2% by the end of 2022. As of December 2023, sales volumes were still down 8.8% year-over-year, reflecting ongoing market instability.
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