Commercial Real Estate & Business News – October 30, 2024

BENGALURU, Oct 29 (Reuters) – The U.S. Federal Reserve will cut its key interest rate by 25 basis points on Nov. 7, according to all 111 economists in a Reuters poll, with more than a 90% majority predicting another quarter-percentage-point move in December. Since the U.S. central…»

The U.S. consumer-confidence index surged to 108.7 in October from a revised 99.2 reading in the prior month, the Conference Board said Tuesday. This is highest level of confidence since January. Economists polled by the Wall Street Journal had forecast the index…»

In the third quarter of 2024, office sales totaled $9.3 billion across 499 transactions, involving 51.4 million square feet of space, CommercialEdge data shows. This reflects a 9.9 percent decrease in sales count and a 7.2 percent decline in square footage from the second quarter of the…»

As reported by GlobeSt, multifamily investors are eyeing new opportunities as interest rates start to slip, setting the stage for renewed investment in the sector. According to the Arbor-Chandan 2024 Multifamily Opportunity Matrix, markets like Nashville, Phoenix, and Austin are prime for…»

California continues to dominate the industrial sector in rental rates, setting high benchmarks for rent levels across the nation. According to the October industrial report, Orange County leads the nation with an average rent of $15.73 per square foot, closely followed by Los Angeles at…»