Nearly 30% of San Francisco’s office space is vacant, which is more than seven times the rate before the pandemic hit, and the biggest increase of any major U.S. city.

Small cities in the Midwest topped The Emerging Housing Markets Index in the first quarter, a sign that buyer demand for affordable homes remains robust even as activity in the broader market slows.

U.S. existing-home sales decreased 2.4% in March from the prior month to a seasonally adjusted annual rate of 4.44 million. March sales fell 22% from a year earlier and marked the 13th time in the previous 14 months that sales have slowed.

The U.S. office vacancy rate reached a milestone in the first quarter when it rose to 12.9%, exceeding the peak vacancy rate during the 2008 financial crisis, with office-building prices down 25% since early 2022.

15% of insurers with commercial real-estate lending businesses are planning to shrink their activity this year. That’s more than three times as many in the same survey last year.

Florida gained more residents than any other state in 2022, according to the U.S. Census Bureau data with most of the domestic driver-license changes coming from New York.

Nearly 23% of the commercial real estate loans in CRED iQ’s database that are secured by properties within the Minneapolis MSA are delinquent or in special servicing. That positions the market as the worst performing among the nearly 400 MSAs the company tracks nationwide, which encompasses more then $900 billion in outstanding commercial real estate debt.

A record $151.8 billion in U.S. mortgages backed by rental apartment buildings are set to expire this year, and $940.1 billion are set to expire over the next five years.

Investors purchased $14 billion of apartment buildings in the first quarter of 2023. That represents a 74% decline in sales from the same quarter a year earlier and is the largest annual sales decline for any quarter going back to a 77% drop in the first quarter of 2009.

Extra Space Storage Inc. has struck a $12.7 billion deal to combine with smaller rival Life Storage Inc., which earlier rejected a bid from industry behemoth Public Storage. the deal would create the largest storage-facility operator in the country by number of locations. Including debt, the combined company would have an enterprise value of roughly $47 billion.