AGP Executive Report
Last update: 7 hours agoU.S. Housing: Pending home sales fell 7.3% in September from August and 11.3% year over year, hitting their lowest level since at least 2001 as mortgage rates climbed toward 7.5%. Builders’ confidence also sank to a 14-year low, with price cuts spreading. Affordable Supply: A new U.S. law removes the requirement that manufactured homes sit on permanent steel frames, potentially making them cheaper to build and easier to use in multifamily projects. But about 30 states may need to update their rules to unlock that growth. Japan: New condo prices across the Tokyo region rose 21.1% year over year to a record 114.94 million yen in April–September; central Tokyo prices jumped 34.7%, even as new units for sale declined. Global Markets: China’s property investment fell 20.6% in the first nine months, while Dubai luxury home sales retreated from record levels amid war-related uncertainty. In Toronto, bulk buyers accounted for 45% of new condo sales in the third quarter.
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