The Real Estate Syndication Show WS1189: Weekly Investor Update (January 16-22, 2022)
MARKET INDICATORS SNAPSHOT
WEEKLY
- Mortgage Rate (30-Year Fixed): 3.7% (as of 1/18)
MONTHLY
- Existing Home Sales: +1.9% (November 2021)
- New Residential Sales: +12.4% (November 2021)
- Median Sales Price for New Houses Sold: $416,900 (November 2021)
- Construction Spending: +0.2% (October 2021)
- New Residential Construction: 3.6% (November 2021)
QUARTERLY
- Homeownership Rate: +65.4% (3Q21)
- Rental Vacancy Rate: +6.4% (4Q21)
Sources: NAR, BLS, Federal Reserve Bank, MBA
HOUSING
- Housing supply drops to a new low since start of the pandemic
Seventy-nine of the 88 largest metro areas registered plummeting home sales.
- Homebuilder confidence plummets for the first time in 4 months
Builder confidence fell one point to 83 in January, according to NAHB.
COMMERCIAL REAL ESTATE
- Global lodging sector to recover in the second half of 2022
Business travel appears to be recovering faster in the US than in other parts of the world.
- Omicron variant will not affect CRE recovery
The US office market has already recorded three consecutive quarters of leasing volume increases, and leasing activity is on the rise.
OFFICE
- WSJ: Office leases rise thanks to tenant perks
Landlords are showering tenants with tens of millions of dollars and months’ worth of free rent and cash gifts to tenants to attract lease renewals.
- Manhattan office real estate not affected by WFH setup
Manhattan office leasing rose by a robust 8.3% in 4Q21.
ECONOMY & JOB MARKET
- Top academics: 2022 will be a tough year for housing
Price increases to lose moment
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