The Most Expensive Office Submarkets – Agbelo News

A boom in life science buildings led Cambridge, Mass., to top a list of most expensive office submarkets of 2021, according to a new analysis by PropertyShark, a real estate data resource. The average price per square foot of office space in Cambridge was $1,560 last year, the highest in the nation—even overtaking West Coast and New York City locations.

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Why Demand for Vacation Homes Is Dropping – Agbelo News

Rising mortgage rates may be tamping down demand for second homes, which reached its lowest level in February since May 2020, new Redfin research shows. Still, second-home demand, based on the number of mortgage rate lock-ins, remains 35% higher than before the pandemic, according to Redfin.

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Builder Confidence Dips for Third Straight Month – Agbelo News

The rising costs of building materials continue to hamper the new-home industry. Prices are 20.4% higher than a year ago and have jumped 31.3% since January 2020, according to a report released by the Bureau of Labor Statistics. That is dampening builder confidence, which dipped in March for the third consecutive month, according to the latest reading from the National Association of Home Builders/Wells Fargo Housing Market Index.

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Single-Family Rents Jump to Record Highs – Agbelo News

The demand for single-family rental homes is climbing, sending rental prices soaring. The annual gain in single-family rents rose to a record level of 12.6% in January, the fastest yearly increase in more than 16 years of reporting, according to a newly released report from CoreLogic, a real estate data firm. That annual rent growth was more than triple the increase in January 2021.

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Companies Team Up for ‘Airbnb of Office Space’ – Agbelo News

Taking advantage of growing interest in alternative office arrangements, two companies are teaming up to build a coworking giant that will allow firms to rent office space whenever they need it. IWG PLC, a flexible office operator and rival to WeWork, announced it was investing about $350 million in a venture with the Instant Group, which operates an online listing site for office space.

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