Share of homebuyers looking to switch metros rises to new high

With mortgage rates soaring, the share of Redfin.com users who were looking to move to a different metro area in the third quarter rose to 24.2% — a new record high. This figure is up from 23.3% in second-quarter 2022, 21.6% in third-quarter 2021 and 18% in pre-pandemic days. The heightened interest rate environment has […]

Lack of space still driving industrial rents upward, especially in port markets

With industrial space still at a premium nationwide and demand remaining high, tenants in this commercial real estate sector continue to pay increasingly higher rents as available properties dwindle, according to the newest U.S. industrial report from Yardi Matrix. The national vacancy rate for industrial properties was 4.1% in September, helping to drive average rents […]

Good Works

The mortgage industry gives back to its communities.

Is the hotel-sector roller coaster coming to an end?

From a historic perspective, national-level performance metrics for the hotel sector have been surprisingly steady. In a given year, opposing patterns of peak business, event and leisure travel have typically provided balance to occupancy rates, average daily rates (ADR) and revenue per available room (RevPAR). Summer leisure travel is replaced by robust autumn business travel, […]

Retail Resurgence

The outlook for brick-and-mortar stores is brightening, but headwinds remain