Blackstone Real Estate Debt Strategies provided the financing, the proceeds of which will be used to retire existing debt and fund future leasing activity.
“Over the past two years, it has been an extraordinary privilege to serve this remarkable association and its dedicated members. Together, we have made significant strides to strengthen HGAR’s foundation and prepare it for the future…”
Thank you to the following Members who are leading the way in the 2025 RPAC campaign
As inventory inches up and prices continue to rise, more households are being locked out of homeownership and pushed into rental markets that cannot keep up.
Inventory is matching a five-year high, though it remains below pre-COVID levels.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
The latest drop, the second month-over-month decline since March, reflects the market's normal cooling heading into fall.
Cash buyers have long been a fixture in the market, but their influence is more pronounced today than in pre-pandemic years.
Lower mortgage rates are enabling more homebuyers to go under contract.
The average 30-year fixed-rate mortgage in August was 6.59%, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
Two out of three agents either agree (38%) or strongly agree (29%) that their brokerage provides all the tech tools they need.
Month-over-month comparisons revealed significant regional variation. Sullivan County led the surge with a 16.4% jump in median home prices, followed by Putnam County with an 11.3% increase.
At the metro level, seven of the 50 largest U.S. markets were in buyer’s market territory in June with six months or more of supply: Miami, Austin, Orlando, New York, Jacksonville, Tampa, and Riverside, CA.
Even with modest improvements in mortgage rates, housing affordability, and inventory, buyers still remain hesitant.
While wages have risen 15.7% in the same time frame, they haven't kept pace with borrowing costs.
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