Wave background
Back to Reef Daily

December 23 2024

Reef Daily

Marble background

Reef Daily | December 23 2024

Housing Market Update

Latest Market Data (December 23, 2024) Winter market conditions continue with reduced competition, though high mortgage rates remain a key factor influencing buyer activity.

Mortgage Rates

Current rates as of December 23, 2024:

Type Today’s Rate Last Week’s Rate
30-year fixed 6.93% 6.73%
15-year fixed 6.20% 6.04%
5/1 ARM 6.45% 6.27%

Future Forecasts Experts anticipate gradual declines in mortgage rates in 2025, though not expecting significant drops.

Notable Transactions

Commercial Highlights Blackstone and BioMed Realty acquired three Kendall Square lab-and-office buildings in Boston for $250 million from Alexandra Real Estate Equities Inc., marking one of the region's largest life sciences real estate deals this year.

Regional Activity

Northeast:

  • Major lab portfolio transaction in Boston's Kendall Square, including buildings housing Sarepta Therapeutics and Editas Medicine headquarters.

Regional Developments

Northeast Boston's life sciences real estate market shows renewed activity with significant institutional investment, as evidenced by Blackstone's recent acquisitions.

Sources:
Today's Mortgage Rates Rise or Drop? - December 23, 2024
OneKey® MLS Reports Strong Housing Market for High-Value Transactions in New York — RISMedia
PropTrack Home Price Index - November 2024 - realestate.com.au
Mortgage and refinance rates for Dec. 23, 2024: Holiday week opens with rise in average rates after Fed cut
Dealmakers: Notable commercial real estate transactions — April-June 2024 - UPSTATE BUSINESS JOURNAL
Year-ender 2024: Bengaluru sees a surge in office demand. A look at 5 mega commercial transactions - Hindustan Times
Closing Bell: Sensex gains 499 pts, Nifty at 23,750; metal, realty, financials rally
Rates increase | Today's mortgage rates for December 23, 2024
Three Kendall Square buildings sold to lab heavyweight for $250M - Boston Business Journal

Sources

This newsletter is for informational purposes only and should not be considered as financial advice.

© 2024 Reef Insights. All rights reserved.

Wave full background

Get Daily Updates

Subscribe to Reef Daily and never miss our market insights.

Daily Market Updates

Curated insights delivered every morning

Free newsletter subscription