San Jose Real Estate News
San Jose
U.S. Delinquency Rates for Commercial Properties Increased 6 Percent in Q4 of 2023
Based on the Mortgage Bankers Association's latest commercial real estate finance (CREF) Loan Performance Survey, U.S. delinquency rates for mortgages backed by commercial properties increased during the fourth quarter of 2023.
U.S. Construction Materials Input Prices Fall Sharply in December
According to the Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics' Producer Price Index data, U.S. construction input prices decreased 0.6% in December 2023 compared to the previous month. Nonresidential construction input prices decreased 0.4% for the month.
U.S. Foreclosure Activity Increased 10 Percent in 2023
Based on ATTOM's Year-End 2023 U.S. Foreclosure Market Report, U.S. foreclosure filings were reported on 357,062 U.S. properties in 2023, up 10 percent from 2022 and up 136 percent from 2021 but down 28 percent from 2019, before the pandemic shook up the market.
U.S. Home Prices Cooling Faster Than Normal in November
Based on the latest Zillow market report for November 2023, monthly costs for a new mortgage are falling, inventory is trending back toward normal, and price cuts are uncharacteristically common.
