National
Economy Watch: Housing Inventory, Median Prices Up
Realtor.com, which is part of the National Association of Realtors, reported on Thursday that the U.S. housing inventory recovery is broad and growing.
TODAY’S DEALS: CIM Group Buys D.C. Apartment Portfolio
CIM Group buys 449 units in Washington, D.C.; KW Commercial completes a luxury sale in West Los Angeles; and Dane PCG represents AIMCO in sale of a $6.6 million Section 8 property.
Economy Watch: Mortgage Applications Drop as Rates Rise
The Mortgage Bankers Association reported on Wednesday that mortgage refinance activity is at its lowest level since 2009.
TODAY’S DEALS: Oakland TOD Condo/Rental Sells for $103M
IPA brokers the sale of a264-unit luxury asset in Oakland, Calif.; NAI Capital completes a $4.3 million sale in Los Angeles; and NorthMarq arranges a $14 million FHA 223(f) loan to fund a conversion to very-low income housing.
Economy Watch: Negative Equity Dropping, But Still Persistent
In yet another report pointing to dropping negative equity among U.S. residential mortgage holders, CoreLogic said that about 2.5 million more residential properties returned to a state of positive equity during the second quarter of 2013.
TODAY’S DEALS: The Abbey Group Lands $123.6M for Boston Apartment Development
HFF arranges a $123.6 million construction loan; UC Funding provides a $16.8 million loan for a San Antonio acquisition; and Principal Real Estate Investors completes a $15 million disposition in Arizona.
Economy Watch: Consumer Credit Sees Uptick
The Federal Reserve reported that U.S. consumer credit was up again, increasing at an annualized rate of 4.5 percent in July.
TODAY’S DEALS: Alex. Brown, Chartwell Acquire 383-Unit Apartment in Charlotte
ARA brokers a $23.8 million sale in Charlotte; CBRE/New England’s Capital Markets team completes a $22.3 million sale in Plymouth, Mass.; and NorthMarq’s Kansas City Office arranges $29 million in financing for two properties.
Record High 291 Housing Markets Listed as Improving in September, According to NAHB
A total of 291 metropolitan areas across the country now qualify as improving housing markets, according to the National Association of Home Builders/First American Improving Markets Index (IMI) for September.
Economy Watch: The Economy Creates 169k Jobs in August
The Bureau of Labor Statistics reported on Friday that the U.S. economy created 169,000 jobs in August, lower than the average increase for the last 12 months, which is 184,000.