So Cal Multifamily Sales Pulse - November 24, 2024 - November 30, 2024

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Here's What's Happening In The Market, Here’s What This Means For You

Fannie Mae Revises Housing Outlook as Rising Mortgage Rates Stifle Sales
Rising mortgage rates and persistent inflation will push rents higher.
Gradual Recovery Continues as CRE Prices Stabilize
The industrial index posted a significant annual increase in October.
Economists Predict Higher Than Previously Expected Real GDP Growth
The median projection for 2025 is 2% GDP growth.
Expert: CRE Market Already Feeling Election Impacts
The impact is most visible in the interest rate outlook.
Fed Keeps Wary Eye On CRE Loans
The delinquency rate for CRE loans has increased to its highest level since 2014
.
2024 Employment Update
The Bureau of Labor Statistics’ monthly report on how long unemployed workers are staying jobless.
Reality Check Coming For Investors Waiting For Big Multifamily Discounts
Buyers that are waiting for fire sales on distressed properties and sellers that are holding out for peak prices need to leave those ideas in the past.
California Rent Control Backers Say They Aren't Giving Up After Latest Election Defeat
This is going to move forward in one iteration or another in terms of making sure that more renters are covered under rent control.
Outstanding CMBS Expected to Face “Credit Challenges” in 2025
A record year for CMBS in 2025, with issuance and special servicing volume expected to reach “peak levels not seen since the global financial crisis.
Orange County Multifamily Report – October 2024
How rents, investment sales and other key fundamentals are trending: the latest insights from Yardi Matrix.

Trump Policies Will Likely Affect CRE, but Bond Yields Are a Bigger Influence
Higher yields for the 10-year have a more obvious negative effect.
How Trump Immigration Policies Could Impact CRE
Restrictive immigration policies could translate into higher development costs.
Fed Tries to Figure Out Where to Go and How Fast to Get There
They see how quickly things can change, something CRE markets should remember.
Are Apartments In Orange County Becoming More Affordable?
Rent growth in the California region lags behind national average.
Renters Struggle to Make Payments Despite Easing Rents
One in five renters said they have worked a job they hate to afford housing.
Soft Landing? Not So Fast: Inflation Heated Back Up In October
The Federal Reserve’s favored inflation gauge just moved in the wrong direction. 
Fed’s Preferred Inflation Gauge Rises To 2.3% Annually, Meeting Expectations
Spending rose 0.4% on the month, as forecast, while personal income jumped 0.6%, well above the 0.3% estimate.

Orange County

Live MLS Link PDF Link

Orange County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.74
10
Closed Sales Last Week
72
Closed Sales - Average Days on Market
$2,307,300
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
7
Financed Transactions Last Week
3
All Cash Transactions Last Week
9
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

7
New Listings Last Week
6
Months of Inventory
240
Total Number of Active Listings
$889,795,751
Active Listings, Dollar Volume
5
Active Under Contract Last Week
0
Pending Listings Last Week
3
Expired Listings Last Week

Southern California

Live MLS Link PDF Link

Southern California Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.17
2
Closed Sales Last Week
20
Closed Sales - Average Days on Market
$895,000
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
0
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

7
New Listings Last Week
8
Months of Inventory
174
Total Number of Active Listings
$469,319,635
Active Listings, Dollar Volume
1
Active Under Contract Last Week
2
Pending Listings Last Week
0
Expired Listings Last Week

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