current

For the first time in three years, the industrial vacancy rate exceeded 5% in the fourth quarter, and Colliers’ Craig Hurvitz predicts that this trend will hold until 2024 as new supply outpaces demand. According to him, the vacancy rate is expected to peak at 6.5% in the second half of 2024, although rates may…

According to a Colliers summary based on MSCI data, declines—significant in some asset classes—dominated investment sales in November. According to the firm’s Research Director for U.S. Capital Markets, Aaron Jodka, retail did the best, declining barely 10% month over month. Office’s sales volume of just $2.8 billion in 2023 set a new monthly low. It…

According to Cushman & Wakefield’s Q4 industrial report, the industrial vacancy rate crossed the 5% threshold after increasing by 60 basis points to 5.2%. This is due to dampened demand and speculative building completions continuing at a robust rate. Although it is still 120 basis points below the long-term 15-year average of 6.4%, the rate…

Indicators for lagging and leading rents in NYC appear to be moving in different directions. Apartment rents in Manhattan, Brooklyn, and Northwest Queens rocketed to new record highs in July, setting records for all three boroughs for the third time in four months. Brooklyn broke its previous record for the fourth consecutive month. On the…

Dodge Construction Network forecasts that overall US construction starts will remain steady in 2023 at $1.08 trillion due to the confluence of housing demand and an impending recession brought on by the Federal Reserve’s fight against inflation. It stated this week during its 2023 Dodge Building Outlook that the total number of construction starts will decrease…