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Here's What's Happening In The Market, Here’s What This Means For You

Fed Sees Long-Term Boom in Home Construction Coming. https://link.socalmultifamilybroker.com/AZtR

US economy will soon start losing 175,000 jobs a month, Bank of America warns. https://link.socalmultifamilybroker.com/AZtS

Fed has to choose between economic destruction and inflation: Dutch Masters. https://link.socalmultifamilybroker.com/Aaig

Significant Declines in CRE Sales Volumes Hit in August https://link.socalmultifamilybroker.com/AdFy

‘The worst is yet to come’: IMF issues stark recession warning. https://link.socalmultifamilybroker.com/Aaij

U.S. rent growth is cooling down. But rents still are rising faster than wages, and affordability is going down. Rising interest rates are forcing priced-out homebuyers to continue renting, driving up rental demand.

Realtors predict home prices will drop 9% in 2023. Declines are expected both for house prices and sales as mortgage rates stay high, the California Association of Realtors forecast. https://link.socalmultifamilybroker.com/AbV_

US Core Inflation Seen Returning to 40-Year High as Rents Rise. CPI excluding food, energy probably rose 6.5% from year ago. Report expected to keep Fed on path to big November rate hike.

IMF chief economist: 'Worst is yet to come' for global economy. https://link.socalmultifamilybroker.com/AcEt

‘The mood has turned darker’: Desperate to outrun inflation, people are making big (and easy) changes to their habits. You can too. https://link.socalmultifamilybroker.com/AcG6

Orange County

13
Closed Sales Last Week
38
Closed Sales - Average Days on Market
$1,872,885
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
12
Financed Transactions Last Week
1
All Cash Transactions Last Week
12
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week
11
New Listings Last Week
4
Months of Inventory
198
Total Number of Active Listings
$657,530,834
Active Listings, Dollar Volume
5
Active Under Contract Last Week
1
Pending Listings Last Week
2
Expired Listings Last Week

Orange County Closed Sales - MikeLembeck.com


Absorption Rate: 3.71 months
Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.95

Live MLS Link PDF Link


Southern California

4
Closed Sales Last Week
47
Closed Sales - Average Days on Market
$1,201,750
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
1
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week
21
New Listings Last Week
4
Months of Inventory
112
Total Number of Active Listings
$241,041,597
Active Listings, Dollar Volume
1
Active Under Contract Last Week
2
Pending Listings Last Week
1
Expired Listings Last Week

Orange County Closed Sales - MikeLembeck.com


Absorption Rate: 2.82 months
Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.28

Live MLS Link PDF Link