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U.S. Home Sales Hit Near Record Lows in May

June 19, 2024

In this edition of Above the Line, we look at the latest downturn in U.S. home sales, the ongoing legal clash between the DOJ and NAR, and the heated bidding war for Mexican industrial real estate.

Let's dive in. 

U.S. Homes Sales Fell to One of Lowest Levels on Record in May
World Property Journal
U.S. home sales dropped 1.7% month over month and 2.9% year over year in May 2024, marking one of the lowest levels on record. High mortgage rates and low inventory are driving up prices and causing sluggish sales.

DOJ Pushes Back on NAR’s Rehearing Request
Real Estate News
The DOJ has pushed back on NAR's request for a rehearing regarding the reopening of an antitrust investigation. The ongoing legal battle could have significant implications for the real estate industry.

Bidding War for Mexican Industrial Real Estate Fund Heats Up
Yahoo Finance
Blackstone and other rivals have increased their bids for the Mexican industrial REIT Terrafina, spurred by recent election results and the devaluation of the peso. The competition reflects the strong demand for industrial real estate in Mexico.

REDD Accounting is a global firm specializing in property accounting and bookkeeping services for real estate companies. Whether you are a small-scale operation or managing a large portfolio of properties, we have the expertise and resources to support your unique needs.

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