AGP Executive Report
Last update: 6 hours agoU.S. Housing: New-home sales slipped 0.6% in September to a 676,000 annual pace, down 5.3% from a year earlier. High mortgage rates and prices are keeping buyers sidelined, while builders offer incentives and cut prices. Rental Market: Miami-Dade rents rose 2% year over year to $2,669, led by Coral Gables, Miami Beach and Downtown. In a counterpoint, apartment-building insurance costs fell nearly 15% in the county. Ownership Costs: Home insurance premiums now exceed property taxes in two-thirds of U.S. counties, adding pressure for owners already facing affordability strains. Global Property: China’s property slump is deepening, with financial strains reaching a government-owned group carrying $62 billion in debt. In South Korea, condo resale volumes rebounded 10.8% in September as prices rose.
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