Market News

As many as 188,000 low-cost rental apartments funded by the government tax credit are eligible to convert their properties to market rate by 2027.

U.S. crude output this year through April is up 9% from a year ago, on pace for a record-breaking year and helping to keep energy prices stable.

Americans voluntarily left 3.8 million jobs in April. That marked a drop of 700,000 from 4.5 million in November 2021, the highest level on Labor Department records back to 2000.

Despite the rise in mortgage rates last year, sales of student housing property reached a record high of $22.9 billion in 2022.

The overall value of private-equity-backed deals is down over 50% in 2023 versus the prior period, at a three-year low of about $256.7 billion. But the number of transactions has fallen only 4% to 6,458. That is the third-highest year-to-date tally in data going back more than 30 years, showing a resurgence of smaller deals.

Home prices posted their first year-over-year price decline in 11 years in April, as higher mortgage rates made home purchases more expensive for buyers.

The Cboe Volatility Index, or the VIX, has fallen to around 14, near the lowest levels since February 2020.

Prologis has agreed to pay Blackstone $3.1 billion for a portfolio of U.S. warehouses and distribution properties. The portfolio includes nearly 14 million square feet in about 70 properties in major markets. The all-cash deal, which is one of the largest commercial real-estate transactions of 2023, is expected to close by the end of June.

A survey of 4,500 companies’ return-to-office policies found that nearly 300 require employees to come in on specific days. Of those, just under a quarter ask employees to come in on Mondays, with many more stipulating staff be in the office on Tuesdays, Wednesdays and Thursdays. Just 7% tell employees to come in on Fridays.

Office buildings are only about 50% as full, with public-transportation ridership at less than 70%, as before Covid-19 across 10 major metro areas.