The average sale price of golf courses tracked reached more than $6.87 million last year, up 38% from an average of just under $5 million in 2023. The last time the average price reached that level was 2007, shortly before the financial crisis and Great Recession.
Park Avenue’s vacancy rate has fallen to 8.9%, its lowest rate since the end of 2018. Manhattan and U.S. office vacancy overall sits at 16.1%.
U.S. existing-home sales rose 4.2% in February from the prior month to a seasonally adjusted annual rate of 4.26 million. That was far better than economists estimated decrease of 3.2%.
The federal government is the country’s largest land owner, controlling 650 million acres, or more than a quarter of all U.S. land.
Total global real-estate fundraising by private-equity firms that invest in real estate was $10 billion in the fourth quarter of last year, a five-year low.
Blackstone closed this week on an $8 billion commercial real-estate debt fund, matching the record for this type of investment vehicle and offering another sign of a property-market rebound.
Among 569 data-center facilities in markets across the Americas, the vacancy rate stood at 4.9% at the end of 2024, and 83% of upcoming capacity is already preleased. In the second half of 2024, North American markets reached 20 gigawatts of operational capacity, with 1.5 GWs added in the second half specifically. That brought the total capacity added in 2024 to 3.2 GWs.
JPMorgan Chase and Starwood Property Trust have agreed to lend $2 billion for the 100-acre data center campus in West Jordan, Utah, outside Salt Lake City. The borrower, a venture of real-estate investor CIM Group and Novva Data Centers, said the facility will be able to provide 175 megawatts of continuous service.
In January, U.S. existing-home inventories were 16% below levels seen this time five years ago. Beneath the headline numbers, different states are recovering at sharply different paces. In Texas, the number of properties for sale is 20% higher than it was before the pandemic while in New Jersey and Pennsylvania, the number of homes currently on the market is still less than half what was normal before the pandemic.
Pending home sales fell 4.6% in January 2025 to the lowest level on record as mortgage rates held above 7% for the entire month.
