Market Studies

Noting a decrease in both purchase volume and refinance activity from 2009, the first-quarter update to iEmergent's formal 2010-2014 Mortgage Volume Forecast was recently released by the Des Moines, Iowa-based market research, forecasting, and advisory services firm

The distressed commercial real estate market has made it difficult for potential property owners and opportunistic investors to secure funding for new deals, as widespread losses on such assets have led banks to shy away from extending credit in recent months. But according to new data from Jones Lang LaSalle that tide appears to have turned, with a growing number of lenders to the commercial real estate sector anticipating an increase in loan production this year.

Despite the static housing economy, RE/MAX, a global real estate company based in Denver, earned No. 1 market share status in the Twin Cities 13-county metro for number of listings sold between January 1, 2009 and December 31, 2009. In addition to earning No. 1 market share in the Twin Cities 13-county metro, RE/MAX agents proved to be the most productive agents in the metro for 2009, the company said.

Multiple bank closures have become commonplace on Friday evenings, but last week, regulators shut the doors on just one institution-1st American State Bank of Minnesota. The bank operated two local branches in Hancock, with $16.3 million in deposits and $18.2 million in total assets. It was acquired by Community Development Bank, also in Minnesota.

A new study from PMI Mortgage suggests home prices have found their bottom. The company's data shows that residential property values began stabilizing considerably during the middle part of last year. PMI says the likelihood that home prices will drop lower over the next two years is diminishing for most large metro markets, but the company cautioned that high unemployment rates and rising foreclosures continue to threaten a full recovery.

As the real estate market begins to recover, new research from the Urban Land Institute (ULI), a nonprofit education and research group, says the ""old normal"" will not be returning. According to a new study released by the organization, emerging trends in demographics and consumer behavior will become major drivers of new housing opportunities, resulting in a residential market vastly different from the one that existed prior to the recession.

A new study developed by TransUnion confirms that the ""new"" payment hierarchy -- where consumers pay their credit cards prior to their mortgages -- is continuing. The company's latest study found that the hierarchy reversal has become widespread, with the shift even more pronounced in states such as California and Florida that experienced a more severe housing bubble effect.

Although government-approved programs and bailouts are in place for many sectors of the battered economy, the resources and solutions for property owners and investors in the heavily-distressed commercial real estate market are lacking. Help is available to commercial property owners, but it is not widely known about. As a result, commercial properties continue to face foreclosure, and commercial real estate is expected to remain a drag on the U.S. economy through 2010 and beyond.

With last month's numbers in and tallied, national home prices registered a 1.8 percent quarterly increase in January, and for the first time in 37 months, yielded a national year-over-year gain of 2.3 percent, Clear Capital said Thursday. The company's senior statistician called the numbers ""significant,"" considering the backdrop of near record levels of unemployment and REO saturation.

Amid possible signs of stabilization within the commercial real estate market, many real estate executives say the road to recovery won't be easy. Concerns regarding the future of the commercial real estate market were reported by many industry insiders in the 1st quarter Sentiment Survey completed by the Real Estate Roundtable, which brings together leaders in the real estate industry to address key national policy issues relating to real estate and the overall economy.