AGP Executive Report
Last update: 6 hours agoHousing Market: Mortgage demand fell 19.2% as first-time buyers pulled back. Existing-home sales edged up month over month, but the median price reached a record $417,500. In Maine, September sales slipped 4.2% year over year while the median price rose to $415,000. Emporia has only about two months of housing supply, and homes are taking longer to sell. Commercial Property: Higher borrowing costs are weighing on buyer searches, while a lender has begun foreclosure proceedings on a vacant $350 million Los Angeles office campus. Deals & Financing: Terra secured $183.75 million to refinance its Bay Harbor Islands office building, which is more than 90% leased. Simi Capital made its first Texas acquisition, buying a 359,000-square-foot small-bay industrial portfolio in the Houston area.
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