U.S. pending home sales rise 2.4% in February

Housing Wire | March 31, 2020

U.S. pending home sales rise 2.4% in February
Pending home sales in February rose 2.4% from the prior month, the second consecutive increase, according to a report Tuesday from the National Association of Realtors. February’s reading shows the health of the housing market prior to the coronavirus-induced shutdown, said Lawerence Yun, NAR’s chief economist. According to Yun, February’s data does not capture the significant fallout from the pandemic, or the measures taken to control the outbreak. Numbers in the coming weeks will show just how hard the housing market was hit, but I am optimistic that the upcoming stimulus package will lessen the economic damage and we may get a V-shaped robust recovery later in the year,” Yun said. The COVID-19 pandemic likely will result in houses sitting on the market for longer periods as Americans are ordered to stay at home, he said.

Spotlight

Everyone wants to know when is the peak or the bottom of a market. That's when you sell, or buy, and supposedly make the most money. For years, investment companies have been touting how they can pick the top and bottom of the stock market, and no one has succeeded.

Spotlight

Everyone wants to know when is the peak or the bottom of a market. That's when you sell, or buy, and supposedly make the most money. For years, investment companies have been touting how they can pick the top and bottom of the stock market, and no one has succeeded.

Related News

Fathom Holdings Completes Acquisition of Epic Realty Acquisition

Fathom Holdings, Inc. | July 02, 2021

Fathom Holdings Inc., is a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, insurance, and SaaS offerings for brokerages and agents. Fathom announced today that it had completed the acquisition of Epic Realty through its wholly-owned subsidiary, Fathom Realty Holdings, LLC. The transaction's terms were not revealed. Epic is a fast-growing regional agency based in Meridian, Idaho, near Boise, that offers full-service residential real estate services to buyers and sellers. Fathom is replacing Epic as the company's name. McCloud and Hodson will oversee Fathom's brokerage activities in Idaho on a daily basis. Fathom Holdings, Inc. Fathom Holdings Inc. is a national, technology-driven real estate services platform that connects residential brokerage, mortgage, title, insurance, and SaaS products to brokerages and agents via the use of its cloud-based software, intelliAgent. Fathom Realty, Dagley Insurance, Encompass Lending, intelliAgent, Real Results, and Verus Title are among the company's brands.

Read More

REAL ESTATE INVESTMENT

JLL Income Property Trust Acquires 4-Building Suburban Atlanta Distribution Center

JLL Income Property Trust | December 08, 2021

JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with $5.5 billion in portfolio assets, today announced the acquisition of Friendship Distribution Center, a newly constructed, four-building industrial portfolio totaling nearly 650,000 square feet. The Class A properties are located in the Atlanta suburb of Buford, Georgia, home to the premier Northeast Atlanta industrial submarket. The purchase price was $95 million. "Friendship Distribution Center's location in Atlanta's Northeast submarket, high quality new construction and proximity to irreplaceable transportation infrastructure makes this an excellent portfolio fit for us as we continue to execute on our strategy of increasing our allocation to core industrial assets,". "Given this property's strong tenant profile and exceptional location, this acquisition aligns well with our overall strategic objectives." -Allan Swaringen, JLL Income Property Trust President and CEO JLL Income Property Trust's aggregate industrial allocation is now over $1.6 billion of industrial holdings in 54 properties across 13 key markets, representing the second largest property type allocation in the portfolio. Friendship Distribution Center is in an "A" location, with immediate proximity to Interstate 985, the major highway in the Northeast Atlanta submarket. Its strategic location provides access to the entire Eastern seaboard within a one to two-day drive. Friendship Distribution Center is 96 percent leased to five tenants, with a weighted average lease term of approximately six years. According to LaSalle Research & Strategy, Atlanta is the fourth largest industrial market in the U.S. with more than 660 million square feet of space. The market set an absorption record in the second quarter of 2021 of 8.6 million square feet, bringing vacancy down to just 5 percent. The Northeast submarket specifically saw 2.1 million square feet of net absorption in the second quarter, the highest of any submarket in the Atlanta metro area, accounting for 24 percent of total absorption. JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world's leading real estate services firms. About Jones Lang LaSalle Income Property Trust, Inc. (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX), Jones Lang LaSalle Income Property Trust, Inc. is a daily NAV REIT that owns and manages a diversified portfolio of high quality, income-producing apartment, industrial, office and grocery-anchored retail properties located in the United States. JLL Income Property Trust expects to further diversify its real estate portfolio over time, including on a global basis. About LaSalle Investment Management LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, LaSalle manages approximately $76 billion of assets in private and public real estate property and debt investments as of Q3 2021. LaSalle's diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.

Read More

New Survey Highlights Staggering Lack of Real Estate Literacy in America

Homie | June 23, 2020

Homie, a real estate technology company that has been changing the way homes are bought and sold since 2015, recently released the results of a survey polling 1,000 millennial Americans on topics related to real estate. The results of the survey highlight the extent to which the real estate industry has historically complicated the process, added unnecessary fees, and created confusion about the costs of homeownership. Millennials polled were largely unaware of many of the complexities involved in buying and selling real estate, underscoring the need for better transparency and education.

Read More