Commercial Real Estate: 2020 Year in Review

Commercial real estate (CRE) has had a very volatile year. At the start of 2020, commercial real estate was well poised for continued growth and expansion with high optimism among all sectors, but the onset of the global pandemic shook the CRE market, turning many sectors upside down and creating uncertainty and concern for short- and long-term performance for many sectors. As 2020 comes to a close, let’s see how commercial real estate has fared and things to look for as we move into a new year.

The impact of coronavirus on commercial real estate

Initial shutdowns relating to the global pandemic caused major disruptions to the commercial real estate market in Q2 2020. Supply-chain interruptions, government mandates, and social- distancing protocols created a shift in demand across all sectors. As the economy started to reopen in early to mid summer, several sectors saw improvements returning to more normalized activity

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14 Big Factors Driving Commercial Real Estate Trends This Year

The Covid-19 pandemic has created an unprecedented challenge for the real estate industry. Commercial real estate professionals have had to navigate new obstacles like virtual showings, finding buyers during an economic downturn and perhaps most significantly, the shift away from centralized offices toward full-time remote work.

The current climate and circumstances will continue to impact real estate trends in the months and years to come, and if you’re in the industry, it’s important to be prepared for what’s ahead. To help, we asked 14 members of Forbes Real Estate Council for their insights. Below they’ve identified the biggest factors driving commercial real estate trends this year and beyond.

1. Utility Management For Remote Work

One factor is the ability of some companies to effectively and responsibly manage critical business initiatives while telecommuting. Companies are evaluating the health, safety and necessity of their employees working remotely versus maintaining the

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California home prices to grow more slowly next year, Realtors forecast, but sales may be stronger

Ultra-low mortgage rates and pent-up demand for single-family homes will offset continued economic uncertainty and a supply shortage in 2021, with the net result being a 3.3% increase in California home sales and a modest 1.3% increase in the median price next year versus 2020, according to a California Association of Realtors forecast published Tuesday.

With only a few months left to go, sales this year are expected to be

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Houston homes for sale: How 2020 home sales compare to 1 year ago

HOUSTON, Texas (KTRK) — As everyone is adjusting to the new normal in the world of a pandemic, we’re taking a look at if and how that has impacted Houston-area home prices compared to 2019.

Many people who were hoping to buy a house in 2020 probably had their plans derailed due to COVID-19, but these numbers might make your choice easier.

Despite economic setbacks brought on by the COVID-19 pandemic, which spread largely in the U.S. in March, the Houston housing market in July saw more home sales than it did a year ago.

According to the Houston Association of Realtors (HAR), single-family home sales increased by 15.7% in June 2020 compared to June 2019. Also, the average price increased to $262,000 compared to $252,900 a year ago.

Data from HAR showed that in the last week of March, the coronavirus had a subtle effect on the price and

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Debt Collectors Have Made a Fortune This Year. Now They’re Coming for More.

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Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to be a debt collector.

In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and bulked-up unemployment benefits to Americans, while easing pressures on them by halting foreclosures, evictions and student loan payments. There was no ban on collections of old credit card bills, Encore’s specialty.

At the same time, the pandemic compelled households to

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Is the Fall a Good Time to Buy a House? This Year, Things Have Changed.

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Dreamstime

Coronavirus sent the U.S. housing market for a spin this summer as demand outstripped supply—and the highly competitive environment appears to have continued into the fall.

“Normally, this last week of September is sort of a buyers’ sweet spot,”
Danielle Hale
, chief economist at Realtor.com, told Barron’s. In a typical year, September is when buyer demand decreases as home listings remain on the market, resulting in more options and less competition, she said.

But that was not the case this year. Homes spent an average of 54 days on the market nationally in September, 12 fewer days than the same month last year and three fewer than in August 2020, according to a Realtor.com study. That’s an unusual occurrence during a month when market activity normally begins to slow. This was the first year since at least 2016 when homes spent less

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Indian House Prices to Fall 6% This Year, Risk to Downside: Reuters Poll | Investing News

BENGALURU (Reuters) – Indian house prices will fall more sharply this year than expected just three months ago amid surging coronavirus cases which are hurting demand in an economy fighting its deepest recession on record, a Reuters poll showed.

Even before the pandemic struck, house prices had declined nearly 1% during the January-March period from the previous quarter, according to Reserve Bank of India data. That is with consumer inflation averaging 6.67% during that same period.

Most new housing projects are either unsold or delayed due to the coronavirus spreading in the country at the fastest rate in the world – causing massive job losses, pay cuts in almost every sector and migration of labour out of top-tier cities.

That gloomy job market was likely to hurt demand and already-slowing housing market activity, suggesting a recovery would not come any time soon, according to the Sept. 16-28 Reuters poll of

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Home Prices Keep Climbing As National Median Now Up 14% from Last Year

SEATTLE, Sept. 25, 2020 /PRNewswire/ — (NASDAQ: RDFN) — The median home sale price increased 14% from 2019 to $319,978—the highest on record—according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The 14% year-over-year increase was the largest since August 2013.

Below are other key housing market takeaways for 434 U.S. metro areas during the 4-week period ending September 20.

  • Since the four-week period ending July 5, home prices have increased 6.6%. Over that same period in 2018 and 2019, prices declined an average of 3.7%.
  • Pending home sales climbed 29% year over year.
  • New listings of homes for sale were up 6% from a year ago.
  • Active listings (the number of homes listed for sale at any point during the period) fell 28% from 2019 to a new all-time low. The rate of year-over-year supply declines has remained
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