US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q3 2023) Property yields rose across all sectors in Q2. However, for the retail sector this was offset by rises in the 10-year treasury yield. Consequently retail saw a small decline in valuations, whereas... 25th August 2023 · 1 min read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2023) All-property values are down by 10% from their mid-2022 peaks, but we think there is still another 15% to come by the end of 2024. Much of that price fall will be driven by a rise in cap rates in... 23rd August 2023 · 1 min read
US Commercial Property Rapid Response Commercial Property Lending (July) July saw the amount of outstanding debt secured against real estate rise (albeit marginally) after a sharp drop in June, driven by a strong rebound in residential lending. Across the commercial real... 14th August 2023 · 4 mins read
US Housing Market Outlook Prices stabilize, but activity to remain weak With affordability stretched and the economy slowing, housing market activity is expected to remain weak over the coming quarters. While we expect house prices to lose some of their recent momentum... 11th August 2023 · 15 mins read
US Commercial Property Update Is there real evidence of an office 'flight to quality'? The data show a small, but limited, divergence in performance between overall class A and classes B and C office space. But that differential appears to have been driven by newly-built " trophy" space... 9th August 2023 · 3 mins read
US Commercial Property Rapid Response US Metro Employment (Jun.) Seasonally-adjusted total employment growth rose by 0.6% 3m/3m on average across the 30 metros we track for the third consecutive month. But there has been clear weakness in the information sector in... 2nd August 2023 · 3 mins read
US Housing Market Rapid Response Mortgage Applications (Jul.) June’s rebound in mortgage applications for home purchase was short-lived as total applications fell by 1.7% in July. This pushed applications back down toward 30-year lows and was probably prompted... 2nd August 2023 · 1 min read
US Commercial Property Update RICS Commercial Market Survey (Q2) The latest RICS survey signalled a slight improvement in occupier and investment sentiment in Q2, but confidence remained low by historic standards. Tight credit conditions and a poor economic... 27th July 2023 · 5 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (May.) House prices rose for the fourth consecutive month in May according to Case-Shiller. The resurgence in prices has coincided with an uptick in home sales from February to May, in turn driven by a... 25th July 2023 · 2 mins read
US Housing Market Rapid Response Housing Starts (Jun.) Single-family starts fell back from their 11-month high in June, but remained substantially above the average seen in 2023 thus far as homebuilders remained optimistic. However with mortgage rates... 19th July 2023 · 2 mins read
US Commercial Property Rapid Response Commercial Property Lending (June) 17th July 2023 · 2 mins read
US Commercial Property Apartment Metros Outlook Clear split between weak west and strong south The latest economic and property market data support the view we’ve held since last year that there would be a growing differentiation between southern and western markets. We expect that to persist... 11th July 2023 · 7 mins read
US Commercial Property Office Metros Outlook San Francisco and Seattle values to drop 40% in 2023-25 Further downgrades to our national office outlook have driven corresponding cuts to return prospects in our metro-level forecasts this quarter. San Francisco still has the poorest outlook, with our... 7th July 2023 · 12 mins read
US Housing Market Rapid Response Mortgage Applications (Jun.) A slight decline in mortgage rates allowed mortgage applications for home purchase to recover from the previous month’s lows in June. That said, applications remain below the average seen so far this... 6th July 2023 · 1 min read
US Commercial Property Outlook Capital values to fall by another 15%, offices to fare worse The effects of March’s regional bank failures have yet to come through in the performance data, but transaction volumes have fallen off a cliff. Signs of distress in offices are growing as the sector... 29th June 2023 · 20 mins read
