Sun Belt Deals Called Off As Housing Market Slumps

By CHUCK GREEN During the pandemic homebuyers fled to southern states for warmer weather but now would-be purchasers are bailing out of deals at a faster clip than anywhere in the country. According to analysts at Redfin, 60,000 deals were called off nationally in September. That’s 17% of the homes that went under contract that month. In Florida, Jacksonville had 745 home-purchase agreements fall through, equal to 30.3% of homes that went under contract. That was the highest percentage among the metros Redfin analyzed. They were followed by San Antonio, TX (25.3%), Atlanta, GA (25%), Orlando, FL (24.6%), and Tampa, FL (24.5%). In August, about 800 home purchase agreements were tabled in Jacksonville. That’s 26.1% of homes that went under contract…

Despite Changes, Office Spaces Are Not A Thing Of The Past

By DOUG OHLEMEIER Despite many employees working from home and companies adopting hybrid work models, investors are still attracted to the land of cubicles. While office suites aren’t as packed with workers as before the pandemic, the commercial market remains strong. “There is investor interest in office properties,” said Stephen Newbold, National Director in the U.S. office of research for Colliers International, a Toronto, Ontario-based global real estate services and investment management company. “We are at a stage where we can fairly confidently say that we’re not going back to those (2020) levels. It may fluctuate a little, but my overarching view is we are stabilizing on vacancies and space on the market.” Observers aren’t sure how the new work…