- Homes Now Typically Sell in a Week, Forcing Buyers to Take Risks “American home buyers are having to pounce faster than ever to clinch a deal, forcing many of them to make snap decisions about what house to purchase and where to live. Home sales between July 2020 and June 2021 sat on the market for a median period of only one week before going under contract, according to a survey released Thursday by the National Association of Realtors. That’s down from three weeks a year earlier and marks a record low in data going back to 1989.” (The Wall Street Journal)
- Institutional Allocations to CRE Gain Momentum “Confidence in commercial real estate hit a nine-year high in 2021, according to the latest survey by Hodes Weill & Associates and Cornell University. Confidence in commercial real estate hit a nine-year high in 2021, according to the latest survey by Hodes Weill & Associates and Cornell University.” (Commercial Property Executive)
- Science and Technology Lifts the Gloom for Property Investors “Commercial-property investors have long banked on offices, retail and industrial buildings. Less conventional assets like mobile-phone towers were the preserve of specialists. Now the big guns of real estate are competing over them too. Thus laboratory space has become commercial real-estate’s hottest property, along with other facilities that power the digital economy. Data centres and infrastructure that connect smartphones are booming.” (The Economist)
- Opendoor, Offerpad Report Record Revenue for Third Quarter “Digital real-estate companies Opendoor Technologies Inc. and Offerpad Solutions Inc. say they are ramping up their home-flipping businesses, reporting new highs for revenue and shrugging off Zillow Group Inc.’s shutdown of its house-flipping outfit this month. While their businesses have yet to show they can sustain profitability, Opendoor shares rose 18% and Offerpad shares rose 6.2% in after-hours trading Wednesday after they released upbeat quarterly results that beat expectations. Those after-hours gains follow several days of share-price declines.” (The Wall Street Journal)
- Why All Landlords Should Implement RUBS “With inflation at a 13-year high, energy prices are reaching devastating levels and are expected to worsen as we move into the winter months. Crude oil has risen 66 percent this year, heating oil has risen 86 percent, natural gas prices have almost tripled, and gasoline is up a dollar per gallon nationwide. Finally, those that use propane can expect to pay 550 percent more than this time last year. These prices affect everyone including apartment owners.” (Multi-Housing News)
- Investors Surf the Life Sciences Wave in the Bay Area “The Bay Area's real estate market is increasingly embracing life sciences development as the pandemic accelerates the industry's growth.” (The Real Deal)
- Schroders in Deal to Buy Cairn Real Estate “Schroders Capital has agreed to acquire Cairn Real Estate in a deal that is expected to close in the first quarter.” (Pensions & Investments)
- Alamo Drafthouse Once Again Adding Theaters Across U.S. “Alamo Drafthouse emerged from bankruptcy in May and said it would open five new theaters — this planned location in St. Louis and two each in New York and Washington, D.C.” (Austin Business Journal)
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