February 11 2025

Reef Daily

Reef Daily | February 11 2025

Latest Market Data (February 11, 2025)

U.S. home sales growth varied regionally in 2024, with metros like San Jose (+8% sales, +16% prices) and Honolulu (+7% sales) outperforming declines in Southern markets like Atlanta and Phoenix.
The MBS Highway National Housing Index rose 5 points to 41, reflecting improving market sentiment.

Construction Activity

Nationwide 360 acquired a 75,000-square-foot industrial property in Hauppauge, NY, for $17.25M, with $1.6M allocated for renovations.

Commercial Highlights

Party City completed lease auctions for $14.5M in gross proceeds, with potential for additional value from remaining assets.

Regional Activity

Northeast: Nationwide 360’s $17.25M acquisition in Hauppauge, NY, included the $8M sale of its former Central Islip facility.
South: Johnston County, NC, recorded multiple residential transactions, including a $570,000 sale in Merifield and a $565,000 property in Highgate.
South: Miami Springs saw price reductions on active listings, though sold prices remained firm.

Inventory Trends

Florida metros like Tampa and Orlando reported double-digit sales declines (-12% to -16%) due to affordability challenges and post-pandemic corrections.

Midwest: CoreLogic forecasts increased buyer interest in affordable Midwest markets, driving price growth in 2025.
West: San Jose’s housing market surged with 8% sales growth and 16% price appreciation in 2024.

The Federal Reserve reported solid economic expansion (2.5% GDP growth in 2024) but noted persistent inflation risks.
President Trump reinstated a 25% tariff on steel and aluminum imports, prompting retaliatory measures from China.
Emerging markets saw softened growth in January, though manufacturing output improved ahead of U.S. tariff implementations.

Data sourced from transactions and reports dated February 10–11, 2025.

This newsletter is for informational purposes only and should not be considered as financial advice.