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Construction Starts on New Affordable Housing Community in San Antonio

Construction Starts on New Affordable Housing Community in San Antonio

by Phil Hall | Dec 15, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The NRP Group, a developer and owner/manager of multifamily housing, has partnered with the nonprofit Community Housing Resource Partners and the City of San Antonio to launch the construction of Nova Lofts, a 65-unit community on the city’s Northeast side. Nova Lofts...
Los Angeles Affordable Housing Community to Be Built on Former Industrial Site

Los Angeles Affordable Housing Community to Be Built on Former Industrial Site

by Phil Hall | Dec 14, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Thrive Living has partnered with JPMorgan Chase (NYSE:JPM) on a new 376-unit affordable and workforce housing community on the site of a former industrial storage facility north of Downtown Los Angeles. A new six-story mixed-use apartment complex is now under...
Median Rents in Manhattan Drop for the First Time in More Than Two Years

Median Rents in Manhattan Drop for the First Time in More Than Two Years

by Phil Hall | Dec 14, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The median rent in Manhattan dropped year-over-year for the first time in 27 months, according to data from Douglas Elliman and Miller Samuel Real Estate Appraisers and Consultants. Last month, the median Manhattan rent was $4,000, down 4.6% from October and down 2.3%...
Mortgage Rates Drop Below the 7% Mark

Mortgage Rates Drop Below the 7% Mark

by Phil Hall | Dec 14, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage dropped below the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The product averaged 6.95% as of Dec. 14. Last week, was at 7.03%, and one year ago at this time it averaged 6.31%. The...
Q3 Home Flipping Down, But Profits Are Up

Q3 Home Flipping Down, But Profits Are Up

by Phil Hall | Dec 14, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A total of 72,543 single-family homes and condominiums were flipped in the third quarter, according to new data from ATTOM. This represented 7.2% of home sales, or one of every 14 transactions – down from 7.9% during the second quarter and from 7.7% in the third...
Thrive Mortgage and Lower.com to Merge

Thrive Mortgage and Lower.com to Merge

by Phil Hall | Dec 14, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Two home loan lenders – Georgetown, Texas-based Thrive Mortgage LLC and Columbus, Ohio-based Lower LLC – have announced the merger of their brands, Thrive Mortgage and Lower.com. Thrive CEO Selene Kellam and Randell Gillespie, production head for Thrive Mortgage, will...
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