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Top 10 Most Expensive Zip Codes 2024

Home Prices Have Started to Slip in a Few States, How Many Homes Are Investors Actually Buying? and 5 more real estate insights

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A Quote

“The struggle ends when the gratitude begins.”

-Neale Donald Walsch

Latest Rates

Loan Type

Rate

Daily Change

Wkly Change

52-Wk Low/High

30 Yr. Fixed

7.11%

-0.06%

-0.05%

6.61/8.03%

15 Yr. Fixed

6.65%

-0.05%

-0.05%

5.95/7.35%

30 Yr. FHA

6.62%

-0.13%

-0.08%

6.00/7.44%

30 Yr. Jumbo

7.40%

-0.05%

-0.01%

6.65/8.09%

7/6 SOFR ARM

7.28%

-0.05%

+0.00%

6.11/7.55%

30 Yr. VA

6.65%

-0.12%

-0.07%

6.02/7.46%

Real Estate Trends

2024 Global Data Center Investor Survey link

  • Global data center investment activity is expected to increase in 2024, driven by optimism about improving market conditions. Investor demand for data centers remains strong, with 85% of respondents planning to increase their investments in the next year.

  • While cap rate expansion is projected to continue initially, it is expected to reverse by midyear. This reversal, coupled with potential interest rate cuts, could boost commercial real estate investment in the latter half of the year.

  • North America continues to be the top target region for data center investment, followed by Asia-Pacific and Europe. Cities like Ashburn, Virginia, and Dublin are highlighted as key investment hotspots.

  • Sustainability is a growing focus, with 70% of investors prioritizing green certifications and energy-efficient technologies. Renewable energy usage in data centers is becoming a critical investment criterion.

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Something I found Interesting

Big banks are more at risk of a commercial real estate meltdown than people think, new study says link

  • Leading banks have greater exposure to commercial real estate debt than generally recognized, increasing potential systemic risk. This includes indirect lending through REITs, adding about 40% more exposure.

  • The study highlights that credit lines to REITs can be heavily drawn during economic stress, amplifying risks for the largest banks. High interest rates and reduced demand further threaten the sector's debt repayment capabilities.

  • Regional banks are major lenders to commercial real estate, raising concerns about a widespread banking crisis. Ignoring REIT-specific risks could significantly underestimate the capital needed in the US banking system by 37%.

Location Specific

Desert/Mountains Among the Nation’s Fastest Growing Apartment Regions

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  • While demand has been hearty in the Desert/Mountains region in the past year, performance fundamentals have been held back by one of the nation’s biggest inventory increases.

  • The Desert/Mountains region – which includes Phoenix, Denver, Las Vegas and Salt Lake City, among others – added roughly 60,400 new apartments in the year-ending 1st quarter, which increased the existing unit base by 4%. Only the Carolinas logged more impressive inventory growth in the past year, with an increase of 4.7%.

  • While Florida and Texas both added more units than the Carolinas or the Desert/Mountains region in the past year, inventory growth in those high-supply areas was more muted at 3.8% (Florida) and 3.4% (Texas). Heavy supply volumes are scheduled to continue in the Desert/Mountains region in the near term, limiting apartment occupancy and rent growth potential.

One Chart

Top 10 Most Expensive Zip Codes 2024

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Pro Member Only Content Below

Home Prices Have Started to Slip in a Few States 

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How Many Homes Are Investors Actually Buying? 

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Three Midwest Markets Surge to Record Rents 

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Off Topic

Charted: America’s Most Popular Baby Names in 2023

Image

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Vidit

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