March 24 2025

Reef Daily

Reef Daily | March 24 2025

Latest Market Data (March 24, 2025)

NAR has revised its housing market forecast, projecting 4.3 million existing-home sales for 2025 (down from previous 4.9 million estimate)
Home price growth projections increased to 3% for 2025 and 4% for 2026 (up from previous 2% estimates)
Charlotte housing market report shows homes spending 55 days on market, sales down 8.7% year-over-year, and inventory up 35.9%

Current rates as of March 24, 2025:

Future Forecasts

Experts suggest that a 30-year mortgage rate around 6.5% could remain the norm for the foreseeable future
Significant rate reductions are unlikely in the short term, according to latest market analysis

Commercial Highlights

American Assets Trust purchased 192-unit apartment property in San Diego for $67.9 million ($353,645/unit)
Brookfield Asset Management sold 345,400-square-foot Manhattan office building for $150 million ($434.28/sf)
Camden Property Trust acquired 352-unit Austin apartment complex for $67.7 million ($192,330/unit)
Brookfield Properties sold 148,000-square-foot Arlington, VA office property for $47 million ($317.57/sf)
Grupo Terra affiliate paid $59.52 million ($225,458/unit) for 264-unit Fayetteville, NC apartment property

Regional Activity

Northeast: $150 million office sale in Manhattan
South: $174.2 million in transactions across Arlington VA, Austin TX, and Fayetteville NC
West: $67.9 million apartment acquisition in San Diego

Inventory Trends

Commercial Real Estate Trends

CBRE forecasts 8% growth in 2025 CRE investment
Industrial/logistics sector attracting 47% of cross-regional investment, highest share on record
Large investors prioritizing strategic partnerships over individual transactions
Hubzu announced expansion into commercial real estate auctions across office, retail, multifamily, and industrial sectors

Real Estate Stocks

Equity Residential (EQR): up 12% over past 52 weeks, outperforming FREL index's 7.8%
CoStar Group (CSGP): down 19.7% over past 52 weeks, underperforming XLRE's 6.2% returns

South

Charlotte market showing stable median price at $385,000 despite sales slowdown and homes spending 55 days on market

Economic Data Calendar

Today (Mar 24): S&P Global Manufacturing/Services PMI
Tomorrow (Mar 25): Consumer Confidence Index (forecast: 95.0), New Home Sales
Wednesday (Mar 26): Durable Goods Orders (forecast: -1.0%)
Thursday (Mar 27): Initial Jobless Claims (forecast: 226,000), GDP Q4 (forecast: 2.3%), Pending Home Sales
Friday (Mar 28): Personal Income/Spending, PCE Price Index (forecast: 0.3% MoM, 2.5% YoY)

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