Real Estate News – Masciale & Associates Inc.
Home Prices Are Finally Going Down, Instead of Up: Why That’s Bad News
Foreign investors are beginning to buy commercial actual property in China again, shrugging off frothy prices and the commerce dispute with the U.S. while focusing on China’s maturing domestic market and longer-time period progress prospects. Commercial-property costs in major cities around the globe tumbled in the second quarter, amid indicators of slower world growth and heightened commerce pressure between China and the U.S.
UK home prices remained flat in August 2019 to depart nationwide annual progress at 0.6%. Savills now expects common house value development to be flat in 2019, down from the prediction of 1.5% growth predicted last November 2018. The recent 7.1 magnitude earthquake that stunned Mexico City (and surrounding states of Mexico, Morelos and Puebla) is now having a strong impact on Mexico’s commercial real estate market.
Markets
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Real property market turnover was significantly weaker than ordinary in August, as a result of which the market closed its weakest summer interval in the final four years, based on information by Duna House Barometer. There have been 7,825 homes sold within the month of September, based on the most recent information from the Toronto Real Estate Board (TREB), marking a 22 per cent enhance from the same month last 12 months when 6,414 houses were sold.
GREEN SHOOT – Demand has only dropped by 7% since peaking back in April. That is the smallest drop since 2009. On common, demand (the variety of new pending gross sales over the prior month) has dropped by 19% after peaking within the spring.