1、Metros which saw the most inventory growth include Phoenix (+158.7%), Austin (+154.5%), and Raleigh (+137.5%), all of which experienced booming demand during the pandemic. Inventory is still declining on a year-over-year basis in 5 markets: Hartford (-17.3%), Chicago (8.2%), and Virginia Beach (-6.7%), Rochester (-5.8%), and Milwaukee (-5.7%).
2、Thirteen of the 50 largest metros also saw the number of newly listed homes increase compared to last year, down from 25 in June. The markets which saw the highest year-over-year growth in newly listed homes included Las Vegas (+37.6%), Nashville (+37.1%) and Oklahoma City (+28.6%). Markets which are still seeing a decline in newly listed homes compared to last year include Baltimore (-22.2%), San Jose (-21.7%), and Hartford (-21.6%).
3、Brookfield has raised $14.5B for its latest RE opportunity fund, largest such fund by Brookfield, $3B already been spent buying distressed CRE at big discount .
4、Craigslist is trying to find a buyer for one of its 9 story Class A office building with big vacancy, asking $60M, 40% discount vs 2019 estimated price of $100M.
5、Zillow revised its latest forecast in Aug, next 12 months to July 2023, US home values to rise 2.4%, a big drop from 6.9% rise forecasted in June.
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