Today's Real Estate Investing Pulse
Housing Prices Slip 2.4% as Buyers Return, Pending Sales Rise 4.3%
Median list prices dropped 2.4% year‑over‑year to $429,500, the steepest decline since 2017. Pending sales climbed 4.3% YoY, extending a six‑month growth streak. New listings rose sharply in the Northeast (+8.6%) and Midwest (+4.7%) while remaining flat in the South.
Also developing:
Mortgage Rates Recover Some of Yesterday's Losses
Mortgage rates pulled back Thursday after a sharp Wednesday spike tied to reports of a prolonged Strait of Hormuz blockade. The 30‑year fixed‑rate benchmark fell from a high of 6.50% to 6.45%, mirroring a simultaneous drop in oil prices and Treasury yields. The reversal began around 2 a.m. ET as bond yields slipped, underscoring the tight link between energy markets and mortgage pricing. Rates now sit near the levels seen earlier Thursday morning, easing the brief surge in borrower costs.
Analysis: Atlanta Cracks Top 10 Among Affordable Cities for Housing
A new study by real‑estate data firm Clever places the Atlanta metro area at No. 9 among U.S. cities for housing affordability, based on a price‑to‑income ratio of 4.03. Median home prices in Atlanta have climbed to $372,000 while median household...
Investment Volume Spikes 18%, Larger Deals Reappear
MSCI Q1 2026: Volume Climbs 18% Investment volume reached $110.7 billion, an 18% year-over-year increase, continuing a growth trend that began in mid-2025. While single-asset deals remain the primary source of liquidity, the market is seeing a selective return of larger...
Purchase Mortgage Closing Costs Dipped in 2025
LodeStar Software Solutions reports that average closing costs for purchase mortgages in 2025 fell to 1.04% of the sales price, or $4,528 on a typical $433,632 home. The median closing cost was $2,993, and the percentage rate remained virtually unchanged...
Inside the Two Surprising Markets Where Home Affordability Is Rapidly Collapsing
A new LendingTree report shows mortgage payments are spiking in unexpected Midwest metros, with Akron, Ohio posting a 10.7% year‑over‑year increase and Toledo rising 9.7%. The surge coincides with $5‑per‑gallon gasoline prices in the Great Lakes region and a broader...
Purchase Applications Rise Again Despite Higher Rates and Fewer Refis
Mortgage applications slipped 1.6% week‑over‑week as rates edged up to 6.37%, but purchase demand stayed strong, with the Purchase Index rising 1% and sitting 21% above a year ago. Refinance activity fell 4% and now accounts for just 42.5% of...
UWM's VantageScore Option Can Cut Mortgage Rates
The nation's top mortgage lender (UWM) has rolled out a VantageScore option for customers. Borrowers who qualify with FICO but have a higher VantageScore could obtain better pricing due to lower LLPAs. However, b/c VantageScore is new and untested, it must be...
W.P. Carey Q1 2026 AFFO Hits $1.30, Raises Full‑Year Guidance
W.P. Carey reported adjusted funds from operations (AFFO) of $1.30 per share for Q1 2026, an 11.1% increase year‑over‑year, and raised its full‑year AFFO outlook to $5.16‑$5.26 per share. The earnings release highlighted a $680 million investment volume to date, a...
Buyer Demand Near Record Lows; Price Cuts Needed
Homebuyer demand remained near record lows to close out April. With Reventure's buyer demand index downshifting to 9/100 this month. For comparison: a 50/100 is "normal", and the current readings are near the lowest on record. Suggesting that the spring 2026 season...
Citadel CEO Ken Griffin Calls Mayor’s Tax Video a Personal Attack, Threatens $6 B Midtown Project
Citadel founder Ken Griffin labeled New York City Mayor Zohran Mamdani’s viral tax‑policy video a "personal attack" and warned the hedge fund could pull a $6 billion Midtown Manhattan development. The clash spotlights the growing political risk hedge funds face when...
Mortgage Rates Rise to 6.3%
Mortgage rates edged higher this week, with Freddie Mac’s 30‑year fixed rate rising 7 basis points to 6.3% as the Federal Reserve kept policy rates unchanged. The move coincided with the 10‑year Treasury yield climbing past 4.4% after stalled U.S.–Iran peace...
Starwood Real Estate Fund Halts Redemptions as Bet on Lower Interest Rates Bites
Starwood Capital’s flagship real‑estate fund, the Starwood Real Estate Income Trust (SREIT), announced a temporary halt to investor redemptions after a surge of withdrawal requests overwhelmed its cash reserves. The fund had been leveraging heavily on the expectation that interest...
Sellers Are Also Buyers, so They Won’t Accept Low Offers
A lot of people fail to realize that "boomers" and other home sellers are also home buyers, most of the time. This makes them would-be sellers, who won't just sell for any price b/c you think they should. Why? Because they...
Oh Canada…
Canada’s April housing data is set to show a rebound after the federal government eliminated the HST on new homes, sparking a noticeable uptick in sales. While condo resales stay depressed, the broader market appears to be stabilizing despite higher...
One Building, Three Functions: Where Live-Work-Play Developments Are Growing Fastest
Live‑work‑play (LWP) mixed‑use projects have surged across U.S. metros over the past decade, with CoworkingCafe’s report identifying the top cities by completions. New York tops the list with 119 LWP buildings, including 31 opened in 2025, while Miami, Chicago, Seattle...
OnTheMarket Reports 40% Spike in PRS Homes Listed for Sale
OnTheMarket data shows a 40% month‑to‑month jump in private rental homes listed for sale in March 2026, with a 120% increase compared with March 2024 and a 94% rise since January 2024. The surge coincides with landlords grappling with higher...
Low‑Rise Home Building Surges After Four‑Year Slump
New Home Construction Industry Rises From The Grave: Low-Rise Home Building Jumps Hi-Rise Condos Still Dead Building new Single Family, Semi's & Townhouses has been Dead in Ontario for 4 years Ottawa has crawled along but Southern Ontario a total crash Until this...
Mortgage Rates Surge to Nearly Four-Week High as Iran Headlines Impact Markets
Mortgage rates climbed to a four‑week peak of 6.45% on Wednesday, the highest level since April 3. The surge followed President Trump’s announcement to maintain a naval blockade of Iran until a nuclear deal is reached, pushing oil prices and 10‑year...
House Price Growth Stalls; Punta Gorda, Austin Plunge
Freddie Mac House Price Index Decreased in March; Up only 0.7% Year-over-year Punta Gorda House Prices Down 21% from Recent Peak, Austin Down 18% https://calculatedrisk.substack.com/p/freddie-mac-house-price-index-decreased-9d1
Kite Realty Posts Q1 Earnings, Boosts Share Buyback by $152 Million
Kite Realty Group Trust announced Q1 2026 results featuring 3.6% same‑property NOI growth and a 94.7% lease rate, while completing a $152 million share repurchase of 6 million shares. Management highlighted strong rental dynamics and a seller‑friendly market.
Get a Mortgage From the Option Market
In 2022 a buyer in the Dallas‑Fort Worth market financed a home purchase with a margin loan from a Morgan Stanley brokerage instead of a traditional mortgage, reflecting the spike in mortgage rates and tighter bank underwriting. The buyer likely...
Belgian Real Estate Market Will Shift to a Lower Gear After a Strong 2025
Belgium’s residential market posted a 5.6% year‑on‑year rise in median home prices in 2025, buoyed by lower registration fees and relaxed energy‑performance regulations that improved affordability. The reduced 6% VAT on demolition and reconstruction further tilted buyer interest toward existing...
KBS’s Marc DeLuca Sees Capital Market Reset Underway for Commercial Real Estate
Marc DeLuca, CEO of KBS, says today’s commercial‑real‑estate market is experiencing a capital‑markets reset rather than a fundamental shift in property use. He highlighted that REITs have outperformed major indices by concentrating on high‑quality, sustainable assets, and that falling interest...
Serious Sellers Share Key Lease Details, Not Just Offers
It happens countless times a day in America. A broker cold-calls a property owner to see if they’d be interested in selling, and they get the most nonsensical answer possible: “Sure, bring me an offer.” When the broker asks for more information about...
Institutional Investors Are Boosting Housing Supply by Selling Homes
Reminder that big institutional investors also add to housing supply. Dallas Tanner (CEO – Invitation Homes $INVH): 04/30/26 earnings call: “We’ve sold almost 20,000 homes back into the marketplace in the history of our business.”
Asia-Pacific Commercial Property Rebounds as Investors Return in 2026
Asia‑Pacific commercial real estate is staging a cautious rebound in 2026 as investors regain confidence. A CBRE survey shows 57% of regional investors plan to expand holdings, with net buying intentions climbing to 17% from 13% in 2025. Office properties...
How to Value California Governor’s Mansion Listing
How do we pull comps on the mansion that was built for the California governor? This estate is currently listed for sale, and today I have some thoughts in my weekly post. https://t.co/LymXG0FbtG https://t.co/J1HJJ1HJaT
Term Sheet: A £450m London Hotel Refinancing, BGO’s Dublin Exit, Nominations Requested for PEI Group’s Women of Influence
Qatari Diar has arranged a £450 million (≈ $576 million) refinancing for its luxury hotel on the former U.S. embassy site in London, using a consortium of leading UK banks. The deal improves the asset’s balance‑sheet profile and reflects strong lender appetite for...
Cohen & Steers Quality Income Realty Fund Discloses April 30 Distribution Sources
Cohen & Steers Quality Income Realty Fund announced the estimated sources of its April 30, 2026 distribution, outlining how net investment income, capital gains and return of capital will be allocated per share. The notice reiterates the fund’s managed distribution...
Castlerock Finishes $13.5 Million Westin Nashville Revamp, Adds Tech‑Forward Meeting Spaces
Castlerock has completed a $13.5 million renovation of The Westin Nashville, refreshing all guestrooms and installing technology‑enhanced meeting spaces. The project, executed at roughly $29,600 per key and financed with $26.56 million of mezzanine debt from AllianceBernstein, aims to capture growing business...
April 2026 Monthly Housing Report: Spring Market Weathers Economic Uncertainty
April 2026 saw the U.S. housing market absorb a wave of economic headwinds, including a spike in gas‑price‑driven inflation and a five‑week climb in mortgage rates that peaked at 6.46%. Despite that, new listings jumped 8.7% month‑over‑month to the strongest...
Weekly Housing Trends: U.S. Market Update (Week Ending April 25, 2026)
The latest Realtor.com weekly housing trends report shows a modest pullback in seller activity, with new listings down 1.4% year‑over‑year after an Easter‑driven surge. Active inventory rose 2.7% YoY, now 6.8% above the same period last year, while homes are...
Lazard to Acquire Campbell Lutyens for $575 Million, Launching New Private‑Markets Unit
Lazard announced a $575 million deal to acquire private‑markets adviser Campbell Lutyens, with up to $85 million in earn‑out payments. The transaction creates Lazard CL, a third global business led jointly by Holcombe Green and Gordon Bajnai, and expands Lazard’s B2B advisory...
The Housing Crisis Isn’t Supply, It’s Policy Failure: Insights From Eric Carlson, Core-Founder and CEO of Anthem Properties Group Ltd.
In this episode, hosts Aaron Cameron and Adam Pawatik interview Eric Carlson, founder and CEO of Anthem Properties, about his journey from a modest upbringing to building a diversified real‑estate portfolio across Canada and the U.S. Carlson explains how his...
Is It Too Expensive to Sell a House?
A new analysis by Flock Homes finds roughly 7.2 million single‑family homes are sitting vacant, creating a pronounced "zombie" inventory that deepens the national housing shortage. The phenomenon is concentrated among owners aged 65 and older, many of whom have fully...
European CRE Investment Slows in Q1 2026 Amid Interest Rate Concerns
European commercial real‑estate (CRE) investment slowed sharply in Q1 2026 as buyers stayed on the sidelines, citing persistent interest‑rate concerns. MSCI data shows a 15% year‑over‑year decline, with total capital deployed falling to roughly €12 billion (about $13 billion). The slowdown is most...
Eldridge Enters Swiss Market with Three Development Loans
Eldridge Capital has launched its first foray into Switzerland by issuing three development loans to local real‑estate projects. The alternative lender highlighted that Swiss developers are facing a tightening credit environment as banks pull back liquidity. Eldridge’s loans aim to...
Middle East Conflict Dampens Australian Home-Building Plan
The National Housing and Affordability Council’s 2026 State of the Housing System report shows Australia is on track to deliver 980,000 new homes by mid‑2029, but the ongoing Middle East conflict‑driven fuel crisis threatens to push the 1.2 million‑home target to...
Ayala Land Trades at Roughly Half Its Book Value
Ayala Land, one of the Philippines most well-known and respected property developers, is now being valued by the market at near HALF book value. Wow https://t.co/ePVrGvsF8S
Southside Atlanta Home Prices Decline Since 2022 Peak
Atlanta’s Southside correction pocket The map below shows home price shift since that Atlanta area ZIP Code's 2022 peak via ResiClub Terminal
‘Wait for the Facts’: Why some Investors Are Holding Firm
Potential tax reforms slated for the May 2026 Australian Federal Budget are prompting property investors to pause and reassess. Data shows an 8.4% drop in investor purchases in Sydney and a 15% decline in new rental supply in parts of...
Pebblebrook Q2 2025 Earnings Beat Forecast, Highlights AI Pilot for Property Management
Pebblebrook Hotel Trust (PEB) reported adjusted EBITDA of $117 million and adjusted FFO of $0.65 per share for Q2 2025, both topping guidance. Management pointed to robust RevPAR gains in key urban markets and a new AI‑enabled productivity pilot aimed at cutting...
The Love Nest Is Dead—Why Fewer Young Married Homeowners Signal a Major Economic Shift
The share of Americans who are married and own a home by age 30 has plunged from 52% in 1960 to just 12% today, according to Census‑based analysis. The decline reflects two forces: later marriage (down from 75% to 38%...
REPORT: Equity Residential, AvalonBay In Early Talks To Combine
Equity Residential and AvalonBay Communities, two of the nation’s largest multifamily REITs, have entered early‑stage talks about a possible merger. Both firms are valued at roughly $25 billion and together control more than 180,000 apartments across 11 states. The discussion follows...
US REITs Accelerate Hybrid Funding with New Private Capital Partnerships
Realty Income teamed with Apollo Global Management and Prologis partnered with Singapore's GIC, marking a surge in hybrid funding deals for US REITs. Industry observers say the moves could reshape capital allocation across the sector.
Two Harbors Posts $80.2M Loss After $375M Litigation Settlement, Shifts Credit Strategy
Two Harbors Investment Corp (NYSE:TWO) posted a $80.2 million comprehensive loss for Q3 2025 after paying a $375 million litigation settlement and selling $19.1 billion of mortgage‑servicing‑rights (MSR) assets. The firm’s cash fell to $770.5 million, its expense ratio rose, and management outlined a pivot...
Acres Commercial Realty Corp (ACR) Q1 2026 Earnings Call Transcript
Acres Commercial Realty Corp reported a $1 billion CRE securitization that lifted GAAP leverage to 3.4 times and expanded its loan portfolio by $374.4 million to $2.2 billion across 60 assets. Book value per share rose to $29.98, a 66 % increase since 2020, while...
Safehold Inc (SAFE) Q1 2026 Earnings Call Transcript
Safehold Inc. reported Q1 2026 results highlighting $167 million of new transactions, primarily affordable‑housing ground leases in Southern California, and a $400 million unsecured term loan that refinanced near‑term debt. The company earned an A‑ rating from S&P and single‑A from all...
A Decade on From Its Renewables Heyday, the Data Centre Yieldco Has Arrived
Blackstone has filed for an IPO to spin off a data‑centre stableco, reviving the yield‑co structure that powered renewable‑energy investments a decade ago. The offering, targeting roughly $1.5 billion, aims to bundle a portfolio of hyperscale and edge‑facility assets under a...
Renting Now Cheaper than Buying as Ownership Costs Surge
Rising mortgage rates have pushed average monthly mortgage payments in Great Britain to about $2,088, surpassing the average rent of $1,934 for the first time since June 2025. Rightmove’s data, based on a typical £373,971 home price and a 5.35% two‑year...