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New York ranked 3rd for the Real Estate development in the US over the past decade.Over 410K new apartments were issued here over the past decade.
Over 78M sq-ft of office space was added.
Industrial space surpassed 80M sq-ft.

New York metro area construction over the past decade

Washington metro area ranked 7th for the Real Estate development in the US over the past decade.Washington excelled in office construction, with ~39M sq-ft of new space added over the past 10 years.
The metro area registered 130K single family permits.Also, 121K multifamily building permits were registered.

Washington’s real estate construction in the past decade

Washington’s Real Estate construction in the past decade

The Chicago-Naperville-Elgin metro ranked 8th for the Real Estate development in the US over the past decade.The metro area built > 162M sq-ft of industrial space.Also, 14M sq-ft of new storage space was added to the local inventory.
~24M sq-ft of office space was also added to the inventory.

The Chicago metro real estate construction in the past decade

The Chicago metro Real Estate construction in the past decade

Mortgage rates > 2X in 2022, going over 7% threshold and hitting a 20-Yr high in late Oct.Yet, mortgage rates ↓ for the 2nd week in a row, with the 30-Yr  fixed-rate mortgage averaging 6.58% in the week ending Nov 2.
So is this enough of a break to bring out more homebuyers?

Will plunging loan rates spark a new homebuying rush?

Will plunging mortgage rates spark a new homebuying rush?

Builders logged 350 net sales in Southern Nevada in Oct, ↓ 59% yearly. 
Builders pulled 545 new-home permits, ↓ 55% yearly.
This indicates a sharp drop in construction plans.
Las Vegas builders’ sales cancellation rate in Southern Nevada was 36% in Oct, the highest since Dec 2008.

Mid-fall homebuilding market in Las Vegas

It seems like there are constantly new apartment complexes going up in Panama City Beach. This is being driven by inventory because houses are being sold as prices have gone up.The avg price for a 2-bedroom apartment in PCB is just over $2K, ↑ 10% yearly.Before Hurricane Michael hit, ~66%  of the market were rentals, while now it is ~33%.

More apartment complexes going up in Panama City Beach

More Apartment Complexes Going Up in Panama City Beach

Home prices are holding steady currently.Prices are expected to stay steady in 2023 and to rise slightly in 2024.
Still, for the first half of 2023, we will some of the same type of volatility that we've seen in 2022.The Real Estate market is going toward a more balanced situation in Chicago.

Chicago’s real estate market in 2023

Chicago’s Real Estate market in 2023

Federal and Montreal municipal authorities have announced a major $4.7M investment.That is towards the development of 91 affordable housing units in Outremont, Quebec.Up to 50% of tenants are likely to benefit from a rent supplement program.Additional assistance will total $775K over 5 years.

Another federally supported boost for Montreal housing supply

Largest US  metros saw impressive levels of Real Estate development over the past decade in both residential and commercial sectors.
Texan metros were at the forefront of Real Estate development over the past decade, with Dallas ranking 1st and Houston 2nd.
Top 10 US construction markets:

Dallas
Houston
New York
Phoenix
Atlanta

Most active markets for construction in the past decade

Most active markets for new construction in the past decade

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Las Vegas Market Update

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New York metro area construction over the past decade

Washington’s Real Estate construction in the past decade

The Chicago metro Real Estate construction in the past decade

Will plunging mortgage rates spark a new homebuying rush?

Mid-fall homebuilding market in Las Vegas

More Apartment Complexes Going Up in Panama City Beach

Chicago’s Real Estate market in 2023

Another federally supported boost for Montreal housing supply

Most active markets for new construction in the past decade

Ways a mortgage broker can help to renew your mortgage

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Sign Up to Add Your Branding to Social Media-Ready Real Estate Videos

Las Vegas Market Update

Greater Nashville Market Update

New York metro area construction over the past decade

Washington’s Real Estate construction in the past decade

The Chicago metro Real Estate construction in the past decade

Will plunging mortgage rates spark a new homebuying rush?

Mid-fall homebuilding market in Las Vegas

More Apartment Complexes Going Up in Panama City Beach

Chicago’s Real Estate market in 2023

Another federally supported boost for Montreal housing supply

Most active markets for new construction in the past decade

Ways a mortgage broker can help to renew your mortgage

Localized Real Estate Videos
to Win Leads

Sign Up to Add Your Branding to Social Media-Ready
Real Estate Videos