Office building landlords are bracing for a record amount of U.S. office space that is hitting the market this year with leases for 243 million square feet of U.S. office space set to expire in 2022, a 40% increase since 2018.
The average mortgage rate on a 30-year home loan surged past 4% for the first time in three years in March.
The value of a typical U.S. home in 2021 was $321,634, an increase of $52,667 from 2020.
The number of construction job openings as of January is 380,000, that’s up from 299,000 a year prior.
Co-op and condo sales in Manhattan reached record levels last year, in part due to pent-up demand following limited activity in 2020. The median sales price for all apartments in the borough topped $1.1 million, the second-highest level of the past decade.
The estimated value of the typical U.S. home rose 19.6% to $321,634 in 2021, an increase of $52,667 from 2020.
41% of office tenants say they plan to use more flexible space as a result of the pandemic, up from 29% in 2020.