Today's Real Estate Investing Pulse
Housing market steadies as sellers adjust prices and buyers return
May’s housing report shows median list prices slipping 2.4% year‑over‑year to $429,500, the sharpest decline since 2017. Pending sales rose 4.3% YoY, extending a six‑month growth streak, while new listings jumped 8.6% in the Northeast and 4.7% in the Midwest but stalled in the South.
Also developing:
NYC Pied‑à‑Terre Tax Fuels Wealthy Migration to Florida, Boosting Homebuilding
A proposed pied‑à‑terre tax on $5 million‑plus second homes in New York City is prompting a wave of high‑net‑worth buyers to South Florida, where luxury rentals are filling fast and developers such as GL Homes are accelerating new projects. The policy debate in New York and the influx of wealthy migrants are reshaping Florida’s residential market.
Cohen & Steers Revises Global and International Realty Indexes Effective May 15
Cohen & Steers announced on May 8 that its Global Realty Majors Portfolio Index and International Realty Majors Portfolio Index will be restructured with a free‑float adjusted, modified market‑cap weighting, taking effect after market close on May 15. The changes,...
RiverPark Funds Secures $1.8B Refinance for NYC’s ‘Superman’ Tower, Signaling New Capital Trend
Edward L. Shugrue III, managing director of RiverPark Funds, closed a $1.8 billion CMBS refinancing of the Solow Building at 9 West 57th Street, valuing the 1.7‑million‑sq‑ft tower near $3.5 billion. The deal, coupled with a $340 per‑sq‑ft lease, highlights a new wave of...
American Healthcare REIT Q1 2026: COO Gabriel Willhite Drives 12% NOI Growth Amid Market Volatility
American Healthcare REIT reported a 12.1% same‑store NOI increase in Q1 2026, highlighted by $162.8 million of SHOP acquisitions and a 31.6% rise in normalized FFO per share. COO Gabriel Willhite credited operational discipline and strategic capital moves for the performance...
Aging Demographics Boost Senior Housing; DHC Stock Buy
Macro: aging demographics support senior housing. Key: DHC Q1 SHOP NOI +160bp, normalized FFO +131% YoY, occupancy +110bp; revenue miss. Risks: 7.8x leverage, 2028 maturities. Trade: buy on weakness to $7.50 📈 — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Retail Investors Turn Away From Commercial Property Holdings
Retail investors have dramatically retreated from UK commercial property holdings, pulling roughly $25.4 billion out of REITs and other funds over the past five years, leaving assets at about $65.7 billion. Open‑ended property funds have been hit hardest, collapsing 85% to $1.71 billion...
ULI Panel Calls for Ops‑First Strategy, Cautions Against Financial Engineering
At its 2026 Spring Meeting in Nashville, the Urban Land Institute’s panel of leading investors warned that the era of cheap debt is ending and urged a shift toward operational excellence. The panel cited a ULI forecast projecting 2% U.S....
US Multifamily Sales Plunge 42% in Q1 2026 as Vacancy Outlook Worsens
Multifamily investors pulled back sharply in the first quarter of 2026, driving U.S. apartment investment sales down 42% year‑over‑year. At the same time, CoStar Group raised its national vacancy forecast to 8.8% by the end of 2026, underscoring a deepening...
New Home Prices Drop 16%, Boosting Buyer Power
Some encouraging signals are coming out of the new home building market. The median sale price for a new house fell to $387k in March 2026. This is now down 16% from the 2022 peak. Some people think it's all due to builders...
US REIT M&A Hits $16.8 B Through April 2026 as Buyers Chase Discounted Valuations
US REIT merger‑and‑acquisition activity reached $16.8 billion through mid‑April 2026, with four announced deals. Private‑equity firms and sizable public REITs are exploiting depressed market valuations, accelerating consolidation in the sector.
San Francisco’s Housing Market Has Lost Its Mind
San Francisco’s ultra‑luxury market is seeing unprecedented price spikes, with a six‑bedroom Cow Hollow home selling for $15 million—nearly double its $7.95 million list price—and a Presidio Heights property fetching $8.2 million, also about double asking. Redfin data shows luxury sales rose 22%...
IPA Arranges First 50-Unit-Plus Encino Multifamily Sale Since 2017
Institutional Property Advisors arranged the sale of Park Encino, a 52‑unit apartment complex in Los Angeles’ Encino neighborhood, for $28 million ($538,462 per unit). The deal marks the first institutional‑sized multifamily transaction of 50 plus units in Encino since 2017. IPA also secured...
Equity‑Rich Home Rate Falls to 43.3% in Q1 2026, Underwater Homes Rise to 3.2%
ATTOM released its first‑quarter 2026 Home Equity & Underwater Report, finding equity‑rich mortgaged homes fell to 43.3% of the market, the lowest level since late 2021. At the same time, seriously underwater properties rose to 3.2%, up from 3.0% a...
Geelong Buyers Snap up Smaller Lots as Affordability Pressure Bites
Geelong’s land market is accelerating as buyers gravitate toward smaller, more affordable parcels. Colliers data shows an average of 606 lot sales per month in the first quarter of 2026, driven by rebates of up to $16,500 USD on titled lots...
The New Playbook for Real Estate Net Lease Investing
In this episode of Thoughts on the Market, Ron Camden and Hank D'Alsandra discuss the rapid evolution of net lease investing, highlighting its shift from a niche retail focus to a broader asset class that now includes industrial, medical outpatient,...
Q&A: Amid Market Volatility, Public REITs Have Outperformed YTD in 2026
The FTSE Nareit All‑Equity REITs Index posted a 13.1% total‑return gain year‑to‑date, outpacing the Russell 1000’s 5.5% rise, driven by a 9.0% surge in April after a volatile stretch linked to the U.S. war on Iran. Data‑center REITs led sector performance...
EXp Expands Platform with Acquisition of NextHome
eXp World Holdings announced the acquisition of NextHome, a franchise network with over 500 locations, and will begin trading on Nasdaq under the new ticker AGNT. The deal, whose financial terms were not disclosed, integrates NextHome’s proven franchise model into...
Developers File Application for $1.6bn Data Center in Cleveland, Ohio
Lakeland Equity Group, a private‑credit firm, filed a permit for a $1.6 billion, 150‑megawatt data‑center campus on a 35‑acre site in Cleveland. The project would comprise three two‑story buildings covering roughly 300,000 sq ft and employ closed‑loop cooling to eliminate emissions and truck...
Higher Rates Hit Mortgage Apps, But Only Modestly
Mortgage applications slipped 4.4% week over week as the 30‑year fixed rate rose to 6.45%, the highest in a month. Both purchase and refinance activity declined, with the Refinance Index down 5% but still 29% above a year ago. The...
Short Sales Surge 1,000% but only 30 More
There has been a 1,000% increase in short sales in the Sacramento region since 2022. Yes, we are seeing an increase, but let's be careful about percentages when dealing with small numbers. What that means is there were 3 in...
Cushman & Wakefield Posts Record $2.5B Q1 Revenue on AI‑Driven Lease Surge
Cushman & Wakefield announced a record first‑quarter 2026 revenue of $2.5 billion, a 9% rise from a year earlier, driven by a 17% jump in AI‑linked leasing activity. The surge underscores how artificial‑intelligence tools are reshaping demand for office and industrial...
UK House Prices Slip 0.1% in April, Pressuring London Real‑Estate Stocks
Halifax data showed UK house prices fell 0.1% in April, marking a second consecutive monthly decline and underscoring concerns over inflation and interest‑rate outlooks. The modest drop, slower than March’s 0.5% fall, is expected to weigh on real‑estate equities on...
Justice for Covered Bonds (and Securitization)
The episode examines recent EU regulatory proposals affecting covered bonds and securitisation, highlighting the European Parliament’s approval of a 5% risk‑weighting for senior STS securitisation tranches while rejecting a similar reduction for AA‑ rated covered bonds. Panelists discuss the covered‑bond...
Keystone National Lends $46M for Arizona Industrial Campus
Silver Creek Development secured a $46 million construction take‑out loan from Keystone National for its newly built Sossaman Business Campus in Mesa, Arizona. The 330,492‑square‑foot, eight‑building site targets technology tenants in semiconductor, aerospace and defense sectors. Arrow Real Estate Advisors negotiated...
Zephyr's Adjusted for Risk: Unlocking the Secrets to Profitable Farmland Investment Strategies
Homestead Capital’s head of investor relations, David Chan, discussed the firm’s dual approach to U.S. farmland investing—direct equity ownership and a newer credit line that lends to farmers. The podcast highlighted key return drivers such as durable lease income, land...
How to Unlock Building Value with Strategic Decarbonization
The article outlines how commercial property owners can boost asset value by embedding strategic decarbonization into capital‑planning cycles. LEED‑certified buildings now command 3‑4% higher rents and deliver roughly 5% better total returns, while tenant surveys show 70% will penalize non‑sustainable...
Warren Buffett Sends Blunt Message on Mortgages, Home Financing
Warren Buffett reiterates that the 30‑year fixed mortgage is the best financial tool for most homebuyers because it locks in a rate while allowing a refinance if rates drop. He cites his own 1971 Laguna Beach purchase, where he financed a...
Multifamily Investors Should Consider Hospitality Too
Multifamily investors facing compressed yields and slowing apartment transactions are turning to hospitality as a tactical allocation. Hotel values have reset faster, with cap rates climbing over 250 basis points, creating acquisition opportunities at operational troughs. Unlike apartments, hotels reprice...
Canada’s Initial Rents Keep Dropping Amid Oversupply
Rents Fall For 19 Straight Months In Canada: There Is No Chance This Stops Soon Some clarity: this means INITIAL Rents, if you are currently renting your existing landlord will likely ask for an annual increase Why will initial rents keep falling? Several...
Vesper Holdings Adds 500 Beds with $1B‑plus Iowa Student‑housing Acquisition
Vesper Holdings bought The Hive, a 250‑unit, 500‑bed student housing complex near the University of Iowa, marking its entry into the Iowa City market and bringing its 12‑month student‑housing transaction total to over $1 billion. The deal expands Vesper’s footprint to...
NYC’s Top Deals: Madison Realty Capital Sells Greenwich Village Condo for $10M
In a single day on May 7, 2026, New York City recorded 165 real‑estate transactions worth $295 million. The most expensive commercial deal was a 20,700‑sq‑ft industrial building in Elmhurst that sold for $9.9 million, roughly $480 per square foot. The headline residential transaction was...
Current Labor Market, Mortgage Rates, and Housing Demand Overview
It's #jobs Friday. In today's podcast, we preview the current labor market, mortgage rates, and inflation. We also discuss the recent #housing demand data. @housingwire @sarahteresa6 #realestate #mortgagerates #chartdaddy
Free Greenville Q&A Empowers New Real Estate Investors
Real estate agent Wade Watt hosted a free beginner‑focused Q&A on May 15 in Greenville, teaching attendees how to buy rentals, flip homes and secure financing. The event, held at 5321 Reidville Road, attracted first‑time buyers and aspiring investors seeking...
Commercial Property Lending Rebounds 52 Percent in U.S.
Commercial and multifamily mortgage originations jumped 52% in Q1 2026 versus Q1 2025, driven by banks refinancing maturing debt. Healthcare loans led the surge with a 209% increase, while office lending slipped 2%. Depository institutions accounted for an 80% rise...
Wealthy Homeowners Want Frictionless Ways to Tap Into Home Equity — and the Market Is Providing Them
Homeowners in the mass‑affluent segment sit on a historic $35 trillion of equity, yet traditional loans burden them with lengthy underwriting and income verification. Recent data show the average mortgaged homeowner holds about $299,000 in equity, and nearly half of mortgaged...
China’s City Stimulus May Bottom Top‑tier Housing Markets
China Daily: "A new wave of stimulus policies launched in the past week by key Chinese cities, including Shenzhen, Guangzhou, Tianjin and Wuhan, is expected to lower homebuying costs and boost market confidence, paving the way for the housing market...
New‑build Inventory Growth Halts After Incentive Spree
Homebuilders spent much of the past year upping incentives, cutting specs, and slowing starts in the weakest Sun Belt markets Now... at least for the time being... unsold completed new-build inventory has stopped surging My latest for @ResidentialClub: https://t.co/qDagkyvXFR
Standard Chartered Lends £250m for London Student Accommodation Scheme
Standard Chartered has committed a £250 million (approximately $317 million) development loan to convert a vacant London office building into a large‑scale student accommodation project. The financing will support the retrofit, creating over 800 beds aimed at meeting rising demand from domestic...
San Francisco Sees 89% of April Sales Exceed List Price
Is there any other location in the country with stats like this? 89% of sales in April in San Francisco sold above their original list price. https://t.co/IQ7hlaAeWL
Housing Market Tracker Shows Inventory Near Negative YoY
It was another positive week for the housing market tracker, with inventory on the verge of going negative year over year. More updates on this will be provided over the weekend.
UK House Price Growth Halved as Iran War Fallout Hits Housing Market
UK house‑price growth has effectively halved, with Halifax reporting a 0.1% dip in April to £299,313 (about $380,000) and trimming its annual growth forecast to 0.4% from 0.8%. The slowdown follows the Iran‑related Middle‑East conflict, which has spooked buyers and...
LA Institutional Apathy Boosts SoCal Apartment Demand
Camden found a buyer for its SoCal apartment portfolio (most of which is Orange County or San Diego), and industry gossip is it's at aggressive price. More broadly: It seems the growing institutional disinterest in L.A. is driving increased interest in...
2026 MLS Sales Financing Shows Surprising Shift to Cash
Here’s a breakdown of reported financing in MLS sales so far in 2026 in the entire region. What stands out to you? https://t.co/1DBuGVwRSM
Sixth Street’s Alvarado: Future Winners ‘Need to Be More than Capital’
Sixth Street’s real‑estate chief Alvarado says the firm is overhauling its platform to thrive amid heightened macro‑geopolitical volatility, rising AI adoption, and a turbulent private‑credit market. The strategy shifts focus from simply supplying capital to delivering operational expertise, data‑driven insights,...
Shorewood Buys Ex‑Walgreens Site for $13M Mixed‑Use Plan
#Shorewood sees mixed-use future for ex-#Walgreens #Chicagoland campus, paying $13M for the 37.5 acres. Seller #Orion demolished 6 bldgs to make it more appealing. #realestate #IL #CRE #REIT #DeerfieldIL https://t.co/rIc6rgjE0M
Infill Developers Can't Scale without Local Financial Ties
And it’s also why great infill developers cannot simply “scale” to other markets. Even if they had the same zoning and there is demand for the product They’d have to rebuild financial relationships from scratch. No banks will finance a 6-plex...
Rentals Still Profitable for 84% of Landlords
A Foundation Home Loans study with Pegasus Insight shows 84% of UK landlords remained profitable in Q1 2026, with average rental yields climbing to 6.5%. Portfolio sizes rose to 7.3 units per owner and 39% plan to remortgage within a year....
Small Banks Dominate Infill Construction Financing, Big Banks Stay Out
Related to housing, it is basically ONLY small banks that provide construction loans for infill projects. Big banks do not waste their time making small loans. It’s why you see construction signs of “Financing provided by ___” and think “Wow I’ve never...
Local Banks, Not Big Lenders, Fund Small Housing Projects
It’s is local banks and credit unions that provide the construction loans for nearly all small infill housing projects The large banks cannot waste their time making small loans.
Only ‘a Few Hundred’ Homes Available to Buy Above £15m
AgentWise reports only 180 UK homes—about $19 million each—are listed above £15 million, representing just 0.04 % of the nation’s housing stock. The ultra‑luxury segment is therefore extremely thin, especially compared with the abundant supply in lower price tiers. London dominates the market,...