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Disney Cancels $1 Billion Real Estate Project in Florida

Disney Cancels $1 Billion Real Estate Project in Florida

by Phil Hall | May 18, 2023 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The ongoing feud between the Walt Disney Co. (NYSE:DIS) and Florida Gov. Ron DeSantis took a dramatic turn with the entertainment giant pulling the plug on one of the biggest commercial real estate deals within the Sunshine State. The New York Times reported that...
Market Spotlight: Parking Space Debate Reshapes Detroit’s Real Estate Scene

Market Spotlight: Parking Space Debate Reshapes Detroit’s Real Estate Scene

by Phil Hall | May 18, 2023 | Commercial Real Estate News, Market Snapshot, News/Current Events, Real Estate News, WRE News Exclusive

Fans of Joni Mitchell will remember this chorus of her classic tune “Big Yellow Taxi”:  Don’t it always seem to go / That you don’t know what you got ’til it’s gone? / They paved paradise, put up a parking lot. The message of that golden oldie...
Freddie Mac: Another Mortgage Rate Uptick

Freddie Mac: Another Mortgage Rate Uptick

by Phil Hall | May 18, 2023 | Industry Updates, Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey, and it is not welcome news for those hoping to see mortgage rates decline. The 30-year fixed-rate mortgage averaged 6.39% of May 18, up from last week when it averaged 6.35%. A year...
Unenchanted April: Existing Home Sales Down Last Month

Unenchanted April: Existing Home Sales Down Last Month

by Phil Hall | May 18, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Fewer existing homes were sold last month, according to new data from the National Association of Realtors (NAR). Total existing home sales – which encompass single-family homes, townhomes, condominiums and co-ops – were down by 3.4% from March to a seasonally...
US Rental Market Growth Slows to Near-Stagnation

US Rental Market Growth Slows to Near-Stagnation

by Phil Hall | May 18, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The U.S. rental market experienced single-digit growth for the ninth consecutive month in April, according to new data from Realtor.com. Last month saw the slowest growth rate since the beginning of the pandemic. Realtor.com reported that the median rent across the...
Florida Home Sales Down 17.2% in April

Florida Home Sales Down 17.2% in April

by Phil Hall | May 18, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Closed sales of existing single-family homes in Florida last month totaled 23,334, a 17.2% year-over-year decline, according to new data from Florida Realtors. Existing condo-townhouse sales totaled 10,040, a 26.8% slide from April 2022. The statewide median sales...
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