World News
Japan Inbound Commercial Investment Implodes 50 Percent Year Over Year
According to new research by global property consultant CBRE, foreign commercial real estate investment in Japan significantly declined in 2022, primarily due to limited availability.
Pending U.S. Home Sales Dip for Third Consecutive Month
According to the National Association of Realtors, U.S. pending home sales sagged for the third straight month in August 2022. Three out of four major regions experienced month-over-month decreases in transactions; however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines.
Historic Hurricane Ian Brings High Flash Flood Risk to 7.2 Million Florida Homes
As Hurricane Ian makes landfall in Southwest Florida today, property data company CoreLogic now estimates that 7,201,572 single- and multifamily residences (SFRs and MFRs) with a combined total reconstruction value (RCV) of $1.6 trillion are within the "moderate" and "high" flash flood risk bands, as forecasted by NHC.
Record Warehouse Development Driven by Aging U.S. Inventory
According to CBRE research, the 43-year average age of existing U.S. warehouse inventory--nearly 28% or 3.4 billion sq. ft. of which is more than 50 years old and at risk of functional obsolescence--justifies the nation's record 627 million sq. ft. of new warehouse space currently under construction.
Hurricane Ian Threatens Over 1 Million Florida Homes With Storm Surge Damage
According to property data company CoreLogic, there are 1,044,412 single-family and multifamily homes along the Florida Gulf Coast with a reconstruction cost value (RCV) of approximately $258.3 billion that are at potential risk of storm surge damage from Hurricane Ian.
