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America’s Fastest-Growing Cities (and Their Home Prices Might Surprise You)
Mapped: The 10 U.S. States With the Lowest Real GDP Growth and 6 More Real Estate Insights
Vidit Saxena
May 20, 2024
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A Quote
“If you get tired, learn to rest, not to quit.”
-Banksy
Latest Rates
Loan Type | Rate | Daily Change | Wkly Change | 52-Wk Low/High |
|---|---|---|---|---|
30 Yr. Fixed | 7.09% | +0.07% | -0.07% | 6.61/8.03 |
15 Yr. Fixed | 6.56% | +0.03% | -0.08% | 5.95/7.35 |
30 Yr. FHA | 6.62% | +0.07% | +0.00% | 6.00/7.44 |
30 Yr. Jumbo | 7.35% | +0.04% | -0.05% | 6.40/8.09 |
7/6 SOFR ARM | 7.30% | +0.06% | -0.03% | 6.11/7.55 |
30 Yr. VA | 6.64% | +0.07% | +0.00% | 6.02/7.46 |
Real Estate Trends
Which Cities Are Converting the Most Commercial Spaces Into Apartments? Link
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Net-lease investment volume fell by 26% year-over-year in Q1 link
Net lease investment volume dropped 45% year-over-year to $8.3 billion in Q4 2023. This significant decline contrasts with the total commercial real estate investment volume, which fell by 44% to $81.2 billion.
The multifamily sector led Q1 2024 with $20 billion in investment volume, followed by industrial and logistics at $16 billion. Retail and office sectors each saw $15 billion.
Investment in Midwest markets showed resilience, posting 23.7 million sq. ft. of industrial leasing activity, with 57.3% being new leases. This indicates a robust demand for industrial spaces in these regions.
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America’s Fastest-Growing Cities—and Their Home Prices—Might Surprise You link
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Location Specific
Miami Faces an Unprecedented Affordable Housing Shortage of More Than 90,000 Units link
Miami is short over 90,000 affordable housing units, causing significant stress for low and middle-income families. The gap is widening as demand outpaces the construction of new affordable homes.
The city’s rapid population growth and rising cost of living are key factors exacerbating the housing crisis. Many residents are being priced out of neighborhoods they’ve lived in for years.
Local government efforts to address the issue include new zoning laws and incentives for developers. However, experts believe more aggressive measures are needed to close the gap and provide relief.
One Chart
Study Finds 78% Consider Homeownership Key Component of the American Dream
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Year-Over-Year Gains for Single-Family Built-for-Rent Starts
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Ranking Multifamily Markets By Revenue
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More Baby Boomers Find They Enjoy Renting
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Top 10 Cities for Graduating College Students
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Off Topic
Mapped: The 10 U.S. States With the Lowest Real GDP Growth
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Cheers,
Vidit
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