Carroll County home sales are up and prices are down for the first time in months
The housing market in Carroll County has seen improvements, with an increase in home sales and a decrease in prices compared to the same period last year. Housing sales rose by 13.6% in September, with 159 homes sold, up from 140 the previous year. This indicates a positive shift in the market, as it was previously plagued by low sales, shrinking inventory, and climbing prices. The housing market landscape in the county appears to be heading in a more favorable direction, providing opportunities for both buyers and sellers. TheBaltimoreSun.
Policymakers push for solutions amid uncertain future of cities
American cities are facing significant challenges including housing affordability, post-pandemic recovery, and climate resilience, with around half of cities experiencing population declines since April 2020. The U.S. is experiencing a housing shortage, with 4.5 million homes needed in 2022, leading to a housing affordability crisis and a deficit in housing units for low- and middle-income families. YahooNews
US home prices hit another record high, but there are signs of a slowdown
Existing single-family home prices in the U.S. reached a 15th consecutive record high in August, but there are signs of slowing growth, with the annual cost increase at 4.2%, the slowest rate since 2023. Regional differences are evident, as the South and West face more affordability challenges compared to the Northeast and Midwest. CoStar.
‘The Skies Are Finally Clearing’ For CRE, Declares 2025 Emerging Trends Report From ULI, PwC
The commercial real estate sector is showing signs of recovery, with industry optimism growing. However, the report cautions that the recovery will be slow and gradual, with interest rates expected to continue declining and tenant demand potentially falling. The pandemic has accelerated population migration patterns, with Sun Belt cities continuing to attract new arrivals, though at a slower pace. Bisnow.
Regional Banks Continue Feeling Pressure From Office CRE Loans
Regional banks are facing pressure from their office commercial real estate loans, contrary to the assumption that smaller community banks are the weak link. A previous study found community banks are in better shape than before the pandemic. The Reuters analysis examined earnings reports of a small sample of mid-sized and regional banks, but this anecdotal data is not statistically representative of the entire population. Globest.
Biden Administration Announces $3B Investment in Port Infrastructure
The program is expected to increase demand for American-made electric cargo equipment and eliminate over 3 million metric tons of carbon pollution, funding new battery-electric and hydrogen-powered equipment as well as charging/fueling infrastructure and solar power to support the over 100,000 union port workers. RebusinessOnline.
Remote Work Sparks Traffic Changes Across US
The rise of remote work has significantly altered traffic patterns across the United States, with nearly 14% of full-time workers now working remotely at least part-time, up from 5.7% in 2019. However, the impact on traffic congestion varies, with Raleigh seeing the most dramatic reduction of 17% as telecommuting grew from 10.5% to 23.6%, driven by the city’s thriving tech sector and continued work-from-home flexibility. GlobeSt.
Tech Giants, Developers And Utilities Team Up On ‘Flexible’ Data Center Projects
Tech giants, developers, and utilities are launching an initiative called DCFlex to develop “flexible-load data centers” that can disconnect from power grids and use backup power, addressing the strain on grids from rising data center electricity demand. The goal is to create models to make grid-responsive data centers viable nationwide by 2027. Bisnow.
Demographic shifts are transforming U.S. housing demand, with the market projected to reach $5.85 trillion by 2030, largely due to a 47% increase in the senior population by 2050. Rising living costs are extending rental periods for young adults and increasing single-person households. Demand for single-family rentals (SFRs) and manufactured housing is growing, while student housing may struggle with a shrinking college-age demographic. 
The Biden administration announced a $100 million investment to combat barriers to affordable housing construction through a new grant program. The program will provide funding to state and local governments and other entities to develop and implement plans to facilitate affordable housing production.
The Maryland housing market continues to see rising home prices, with prices up 2.5% per quarter on average, despite a slight slowdown in the market. Inventory is declining, and homes are selling quickly, often within a week, driven by steady demand from government workers and military personnel. While some homes are still selling above list price, the state is working to make homeownership more affordable through various assistance programs. Analysts predict the Maryland housing market will remain strong, with low inventory and stable or rising prices, though potential buyers may face affordability challenges. Overall, the Maryland housing market favors sellers, but buyers have options to help offset the impact of high interest rates. 
The affordable housing crisis in the nation is well-known, and real estate developers and planners are eager to address the issue. However, one of the main challenges they face is not financing or construction but gaining community support for their projects. According to a survey conducted by coUrbanize, two-thirds of developers and planners stated that their most active projects in the next six months will be building affordable and supportive housing. Despite 94% of respondents attempting to gain community input and support through public meetings, many were frustrated by low attendance and lack of productivity. The greatest barrier to engagement, as identified by 60% of respondents, was the lack of staff time. 
The latest Realtor.com Rental Report reveals that renting a starter home has become more financially advantageous than buying in all 50 largest metropolitan areas in the United States, driven by elevated mortgage rates, high home prices, and a decline in rents. On average, renting a starter home is $1,067 per month, less expensive than buying, with cities like Austin, Texas, Seattle, Los Angeles, San Francisco, and New York seeing the most significant savings for renters. While renting remains more economical overall, the advantage is beginning to diminish in some areas as home prices and affordability improve, but certain markets like Memphis and Birmingham have become more rent-favoring due to increased investor activity. 
Carroll County’s unemployment rate is currently at a low of 2.7%, but officials are still working to attract new businesses and create more jobs for its residents. The Board of Carroll County Commissioners recently approved the allocation of $150,000 toward business expansion and new job creation. Denise Beaver, the director of the county’s Department of Economic Development, commented on the funding, indicating that the county is committed to ongoing efforts to support economic growth and job opportunities. This initiative reflects the county’s proactive approach to maintaining a thriving local economy and providing employment options for its community. 
Bipartisan bills in Congress would create a federal tax credit to convert underused commercial properties into affordable housing, addressing vacant spaces and the housing crisis. The $15 billion program would cover up to 20% of conversion costs, with extra incentives for economically distressed areas. The credit is designed to work with existing affordable and historic tax credits to make conversions viable. While the bill has broad support, historic tax credit stakeholders have some concerns. The legislation is unlikely to pass this year but has a good chance in 2025. 
Rental prices nationwide have cooled off, with smaller year-over-year increases, as new housing construction finally hits the market.
More young adults are finding themselves nestled back in the family home, with a whopping 17% of 25-35-year-olds now living with their parents – a drastic increase from just 7% in 1970. This phenomenon is driven by the skyrocketing costs of housing, forcing many to roost at home well into their thirties, despite stories of children eager to flee the nest.
Southern cities like Raleigh, Austin, and Atlanta are emerging as top destinations for 20-somethings seeking entry-level jobs with good salaries and affordable living, offering a combination of brisk hiring, cost-of-living-adjusted wages, and a concentration of industries like technology, healthcare, and finance.
Despite warnings of a looming commercial real estate (CRE) crisis, smaller banks have largely avoided major issues. They tend to focus on suburban office and local business properties that have held up better than the troubled big-city office market. While some banks are reducing CRE exposure, they are not lending as much, creating an opportunity for private credit providers to step in with more expensive financing. 
Lenders are tightening their grip on the commercial real estate (CRE) market as borrowers struggle to meet their obligations, leading to a surge in foreclosure activity. Analysts have been closely monitoring the status of CRE loans, including CMBS, bank loans, and properties in special servicing, revealing a concerning trend of delinquencies.
She says her decision to close was fueled by uncertainty — about the neighborhood, about the economy and about consumer behavior. Her uncertainty is a symptom of a larger plague spreading across Silver Spring, where a once-vibrant downtown commercial district is now lined with vacant storefronts and half-empty office buildings. 
Jamauri Bogan, a 28-year-old developer in Kalamazoo, Michigan, has a pretty simple strategy for finding out what young apartment tenants want. He calls his friends.
A developer has broken ground on a new affordable-housing development on East Patrick Street. The development, called Overlook East, will include 85 units across three buildings and have capacity for more than 300 people. Scheduled to open in late 2025, it is meant to serve people and families making up to 60% of the area median income. 
Middle-aged Americans, part of Generation X, say they will need to rely on family for housing help in retirement (but they haven’t told them yet!). Young adult children have spent years relying on funding from the Bank of Mom and Dad, and now their parents say they may soon need to mooch off of them. Read the full article 
Although affordable housing has gained a previously unheard-of amount of visibility at the federal level over the last few years, the realities of Washington, D.C., are tossing cold water on activists’ hopes for quicker change.