AGP Executive Report
Last update: 8 hours agoU.S. Housing: Existing-home sales rose 1.5% in September but remained 2.2% below a year earlier. The modest rebound reflects contracts signed before mortgage rates climbed near 7.5%; pending sales sank to a 12-year low. Markets diverged: New York-area prices rose 3.6% as listings grew, while Phoenix home values fell 1.1% and sales dropped 5.1%. Commercial Property: Australian buyers are pulling back as borrowing costs rise. Property searches have fallen year over year for 12 months and listings slipped 7% in the September quarter. Industrial sales held up, rising 27% over the year to June, while high office vacancies and low yields weigh on investor appetite. Housing Supply: Taylor Wimpey has started work on a 470-home development in Leigh, England, with a quarter of the homes designated affordable. Vancouver’s updated rules, effective Oct. 27, give developers more scope to build larger balconies in new apartments.
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