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:
Cain International and Kushner Companies Launch $42M Edgewater Tower Project
Cain International and Kushner Companies announced a joint venture to develop a 40‑story, 364‑unit apartment tower in Miami’s Edgewater neighborhood. The project is financed with a $42 million loan from MSD Partners LP and marks the first collaboration between the two developers, each bringing billions in assets and thousands of units to the partnership.
Digital Realty Q1 2026 Earnings Show 16% Revenue Jump as AI Data‑center Demand Surges
Digital Realty reported Q1 2026 revenue of $1.635 billion, up 16.2% year‑over‑year, and core FFO per share of $2.04, a 15% increase. The company highlighted a $707 million annualized leasing book, driven by a record 200 MW AI inference lease and a 40%...
March Housing Slows; April Sales Poised for Rebound
Final Look at Local Housing Markets in March and a Look Ahead to April Sales https://calculatedrisk.substack.com/p/final-look-at-local-housing-markets-05f
Pick Markets Where You Can Actually Find Deals
I get asked all the time “how do you choose a market” & to be honest it’s pretty simple Instead of approaching it from the statistical perspective, I approach it from the “can I actually find a deal in this market”...
Interactive Map Shows Home-Value Disparity Across ATL Neighborhoods
An interactive Atlanta Neighborhood Appreciation Map, built with Zillow Home Value Index data and Anthropic’s Claude AI, visualizes how more than 200 intown neighborhoods have performed over the past three to five years. The tool reveals a stark K‑shaped market:...
Loans in Focus: Fiera Refinances Reading Office Scheme, Aareal Issues €220m to Finnish Developer, Spain’s All Iron Secures €200m Loan
Fiera Real Estate Debt Strategies is extending a £115 million (≈ $145 million) loan to refinance a Reading office portfolio, while Germany’s Aareal Bank has issued a €220 million (≈ $240 million) senior credit facility to Finnish developer Citycon. In Spain, a consortium led by Banco...
Sellers Outpace Buyers by 43%, Largest Gap Since 2013
"Nationally, sellers outnumber buyers by 43%—just shy of the largest gap in records dating back to 2013" -Redfin
Low‑rate Mortgages Shield Older Borrowers From Past Crises
A ton of foreclosures and bankruptcies vs a 30-year fixed debt Stock vs flow economics https://t.co/CUdOs4rE71
New York's Pied-a-Terre Tax Sets up Legal Fight over Values
New York City officials have proposed a "pied‑à‑terre" surtax on second homes valued above $5 million, aiming to raise roughly $500 million annually to help close the city’s budget gap. The tax, announced by Gov. Kathy Hochul and Mayor Zohran Mamdani, will...
REITs Surge in Relative Strength, Model Shows
Anyone else noticing REITs climbing the ranks of relative strength. One of my models @ETFreplay https://t.co/eybq3g61Kl
What $1 Million Buys You in Real Estate Around the World
The latest Knight Frank Wealth Report shows that a $1 million budget now purchases just 16 square metres in Monaco, the world’s priciest luxury market, down from 17 square metres in 2020. In Hong Kong, $1 million secures 22.5 square metres, while New York offers about 34 square metres,...
China Business Uncovered Podcast #4: Inside Vanke and China's Property Reckoning
In this episode, Caixin reporter Chen Bo explains how Vanke, once hailed as the model Chinese developer, fell into a severe liquidity crunch due to aggressive land purchases, maturing debt of over $4 billion in 2024, and a hidden off‑balance‑sheet financing network...
Apartment Sales Edge Up 1% in Q1 2026, Major Metro Deals Surge 29%
U.S. multifamily transactions rose 1% in the first quarter of 2026, driven by a 29% year‑over‑year surge in the six major metros that generated $10.1 billion in sales. Non‑major markets slipped 9% to $21.9 billion, highlighting a widening geographic divide as investors...
Rent Growth Rockets in 10 U.S. Cities in 2026, Outpacing National Trends
TurboTenant’s 2026 analysis shows rent growth soaring in ten U.S. cities, with San Francisco leading at a 15.8% year‑over‑year increase and a $5,200 average two‑bedroom rent. The surge reflects tight supply, high‑income demand and lagging construction, reshaping valuation models for real‑estate...
Ken Griffin Threatens to Pull $6 B NYC Development After Mayor’s Anti‑penthouse Tax
Citadel founder Ken Griffin signaled he could halt a $6 billion, 350 Park Avenue redevelopment after Mayor Zohran Mamdani’s viral video announced a new pied‑à‑terre tax on luxury second homes. The standoff pits a hedge‑fund giant’s capital‑intensive project against a city‑wide effort to...
How Much Does One Hectare Cost to Buy Around the World?
Knight Frank’s latest Wealth Report shows vineyard values are climbing, not declining, with the most prized terroirs—Champagne, Bordeaux and Burgundy—commanding up to $1.9 million per hectare. Italy’s Piedmont Barolo tops the global price chart at $2.7 million per hectare, while Australia’s Barossa...
How Much Apartment Space Can ₹10 Crore Buy in Top Metros? Mumbai Offers the Least, Costs the Most
Knight Frank’s Wealth Report 2026 shows Mumbai remains India’s priciest luxury‑real‑estate market, where ₹10 crore (≈$1.2 million) purchases only 1,033 sq ft of high‑end apartments, a 3% drop from 2024. In contrast, the same budget buys 2,207 sq ft in Delhi and 3,843 sq ft in Bengaluru, the...
The Cost of Capital Is Climbing – and Dealflow Is Feeling the Strain
The podcast highlights a sharp rise in cost of capital as geopolitical tensions and lingering inflation push borrowing rates higher. Investors and sponsors are forced to re‑engineer capital structures, extending loan maturities and demanding higher equity cushions. This tightening is...
Tough Market for Sellers, Claims House Buying Group
House Buyer Bureau’s analysis of TwentyCI data shows UK sellers are under pressure, with asking‑price reductions jumping 10.8% year‑on‑year. Fall‑throughs rose 4.5% and market withdrawals increased 7.6%, indicating a fragile sales pipeline. While new listings grew modestly by 2.1%, many...
Why Most First-Time Homebuyers Are Skipping Starter Houses for ‘Forever Homes’
First‑time homebuyers are increasingly skipping cheap starter homes and aiming for a "forever home" they intend to keep for decades. The BMO Real Financial Progress Index shows 65% expect their first purchase to be their last, while 58% deem the...
American Realty Investors Reports $7.8 B Q3 2024 Loan Portfolio, Highlights Repayment Surge
American Realty Investors (ARI) disclosed a $7.8 billion loan portfolio at the end of Q3 2024, driven by $953 million in loan repayments and new originations of $597 million. The results underscore a mixed picture of strong cash flow, a realized $128 million loss...
Royals Commit to $1.9 B Crown Center Stadium in $3 B Mixed‑Use Entertainment District
The Kansas City Royals disclosed plans to build a $1.9 billion ballpark inside Crown Center, joining Hallmark Cards in a $3 billion mixed‑use entertainment district. The public‑private deal, backed by up to $600 million from the city and a state‑level Show‑Me Sports Investment...
392. Gigawatts & Green Shoots: Data Center 101, Blue Owl's Healthcare Grab, & NYC's Pension Housing Bet
In this episode, Trepwire analysts discuss a "selective stabilization" in commercial real estate, highlighting strong retail sales, modest gains in pending home sales, and the continued affordability squeeze. They examine Blue Owl Capital's $2.4 billion acquisition of Sela Realty Trust, noting...
Redfin Says U.S. Home Prices Grow Only 0.1% in March, YoY Gain Slows to 1.7%
Redfin’s March Home Pricing Index reports a modest 0.1% month‑over‑month rise and a 1.7% year‑over‑year increase—the weakest annual growth since 2012. The slowdown is linked to higher mortgage rates after the Iran conflict, leaving buyers on the sidelines and creating...
Kilroy Realty Posts $1.20 Q4 FFO, Records Highest Q4 Leasing in Six Years
Kilroy Realty Corp. posted fourth‑quarter 2024 funds‑from‑operations of $1.20 per diluted share and signed 708,000 square feet of leases, its strongest Q4 since 2019. The REIT warned that average occupancy will fall to 80‑82% in 2025 as large lease expirations...
Cal Neva Resort Secures $298 Million to Reopen as Lake Tahoe Proper Resort by 2027
Realberry and Proper Hospitality have closed a $298 million financing package to redevelop the century‑old Cal Neva Resort into the Lake Tahoe Proper Resort and Casino. The project, slated to open in 2027, will add 197 rooms, a casino, spa and event...
DR Horton’s Shift to 65% FHA/VA Increases Default Risk
DR Horton has adjusted its business model in an interesting way. Back in 2021/22, they were doing 40% of their business to FHA and VA borrowers. Now it's 65% of their business. FHA and VA loans typically have 0-5% downpayments and higher credit...
UBS Relists 455 Market St. As Bay Area Office Trades Pick Up Steam
UBS Realty Investors is relisting its 23‑story 455 Market St. office tower at about $400 per square foot, valuing the 347,000‑sq‑ft property at $130‑139 million. This price is roughly half of the $750 per square foot ($260 million) it sought in 2022. The...
Crash Period Listings Triple Normal Seasonal Peaks
Just a friendly reminder that the new listings data was consistently around 250K-400K per week during the housing bubble crash years. Normally, during seasonal peak weeks, it's 80K-100K. @housingwire @sarahteresa6 #housing #realestate #mortgagerates #chartdaddy
Turn One Home Into Multiple Income‑Generating ADUs
Co-living: looks great on paper, tough to manage. But what if you could add ADUs to a single-family home? More units, more doors. Generational living or rental income – that’s the investor opportunity. #RealEstateInvesting #ADU #PropertyManagement #InvestmentOpportunity #SingleFamilyHome RealEstateTips GenerationalLiving...
Rental Property Analysis: 5 Valuation Methods and Examples
The article outlines five core methods for valuing rental properties: sales comparison, income approach, gross rent multiplier, cost approach, and a hybrid strategy that blends multiple techniques. Each method offers a distinct lens—comps gauge market prices, income focus highlights cash...
Arizona’s 57,000 Short-Term Rentals Aren’t Actually Killing Housing Supply—But This Is
A new Common Sense Institute report finds that Arizona’s 57,000 short‑term rentals (STRs) largely replaced vacant vacation homes rather than pulling units from the full‑time market. The state’s housing affordability crisis stems more from a post‑Great Recession collapse in new‑home...
MBA Renews Press for Limited Single Report as Scores Compete
The Mortgage Bankers Association (MBA) is urging regulators to allow a single credit report for high‑score mortgage borrowers, arguing it can lower costs and spur competition among the three major bureaus. The proposal includes safeguards such as requiring lenders to...
Gantry Secures $14M Refinance for Puget Sound Hotel
Gantry has arranged a $13.5 million permanent loan to refinance the Hampton Inn & Suites in Kent, Washington, retiring maturing debt and returning equity to investors. The four‑story, 95‑room hotel sits less than five miles from Seattle‑Tacoma International Airport and serves a workforce anchored...
Banks Pay Homeowners To
Banks are now PAYING homeowners to move if they get rid of their mortgage? You can get a massive principal balance reduction if you give up a super low-rate mortgage and buy a replacement home at today's rates. The DREAM (Discount for...
Ladder Capital Posts $33.6M Distributable Earnings, Highlights CRE Loan Payoffs
Ladder Capital Corp. posted $33.6 million in distributable earnings for Q4 2024, delivering an 8.9% return on equity. The results were driven by $1.7 billion of loan payoffs, a modest leverage ratio of 1.4x, and an $850 million upsized revolving credit facility that expands...
Las Vegas Sands Posts Record Q1 Revenue, COO Patrick Dumont Charts Expansion Strategy
Las Vegas Sands Corp. posted record first‑quarter revenue, driven by a 30% jump in Marina Bay Sands EBITDA and strong growth in Macau. COO Patrick Dumont detailed a $500 million capital‑expenditure program and a phased renovation of the Venetian, signaling an...
Netflix in Talks to Buy Radford Studio Center for Up to $400 M
Netflix is in advanced negotiations with Goldman Sachs to purchase the 55‑acre Radford Studio Center in Studio City for a price reported between $330 million and $400 million. The deal would give the streamer a permanent Los Angeles foothold as it shifts from...
Canadian Real Estate Crash Overstated, Nova Scotia Up $13k In A Month
The Canadian Real Estate Association reported a modest 0.5 % rise in national home prices to $664,400 CAD in March, but eight of nine provinces with published HPIs actually posted gains. Nova Scotia led the surge with a $13.5 k CAD (≈$10 k...
Steady Office Demand Tempers Houston's Negative Absorption
Houston’s office market posted a 10% quarter‑over‑quarter leasing increase, yet NRG’s departure of 479,000 SF drove the first‑quarter net absorption negative. Class‑A properties absorbed 70% of the 2.4 M SF leased, underscoring a continued flight‑to‑quality. New supply of 500,000 SF entered the market, with...
Distressed Sales Numbers Show Signs of Market 'Normalization'
Auction.com’s Q1 report shows distressed‑housing activity moving toward pre‑pandemic norms. Completed foreclosure auctions rose 10% from the prior quarter and 33% year‑over‑year, bringing volumes to about 66% of the first‑quarter 2020 level. The distressed‑sales rate edged up, with buyers paying...
Sellers No Longer Deterred by Lock-In Effect, Study Finds
Homeowners are shedding the lock‑in effect, prompting more listings this spring. Coldwell Banker’s 2026 Home Shopping Season Report, based on over 700 agents, finds over a third of sellers have sub‑5% mortgage rates yet plan to list, and 40% say...
Fractional Real Estate Investing Is on the Rise in the Sun Belt
Fractional real estate platforms are booming as high mortgage rates and soaring home prices shut out first‑time buyers. DataIntelo estimates the global market at $4.2 billion in 2025, projected to reach $14.8 billion by 2034, with North America accounting for 38.6% of...
40% More Home Sellers Than Buyers (Credit Quality Of Mortgages Deteriorating)
Redfin data show that in March 2026 home sellers outnumbered buyers by 43.1%, a gap that has widened from 28% a year earlier and sits just below the December record of 45.2%. The surplus of sellers reflects a cooling demand...
U.S. Coworking Growth Moves Beyond Major Cities in 2026
The U.S. coworking sector added 9,136 locations by the end of Q1 2026, a 3.2% quarterly rise, while total space grew 2.9% to 163.9 million sq ft. Growth is now led by mid‑tier markets such as Philadelphia, Tampa and Cleveland‑Akron, which posted the...
Bonds Play a Role in Arlington, Texas, Lease Extension for Dallas Cowboys
Arlington’s City Council approved a master agreement extending the Dallas Cowboys’ lease at AT&T Stadium through 2055, with the team pledging at least $750 million for facility upgrades. The city will reimburse up to $273 million over 20 years for maintenance and...
Apartment Market Still Tight; 2026 Starts Forecast Slashed
NMHC on Apartments: Market Tightness "mostly unchanged" in April Survey Multifamily executives have lowered their expectations for total 2026 multifamily starts https://calculatedrisk.substack.com/p/nmhc-on-apartments-market-tightness
D.R. Horton Cuts Unsold Inventory 35% YoY
D.R. Horton is quickly shrinking its pileup of unsold completed inventory "Unsold homes are down 25% from December and 35% from a year ago" - Paul Romanowski, CEO of @DRHorton said during their April 21, 2026 earnings call Chart via @ResidentialClub
NMHC on Apartments: Market Tightness "Mostly Unchanged" In April Survey
The National Multifamily Housing Council’s April Quarterly Survey shows apartment market conditions remaining largely steady, with all four key indexes hovering near the breakeven threshold of 50. The Market Tightness Index slipped to 49, suggesting marginally looser conditions, while the...
Just 13% of Homeowners Say Buying a Home Is Achievable in Current Market
A Citizens study found only 13% of homeowners consider buying a new home feasible in today’s market, while 44% view renovation as their most realistic option. Elevated mortgage rates—now more often above 6% than below 3%—and limited inventory are driving...