MarketWatch: Weekly Real Estate Update for Riverdale, Bronx – 7/21/2025 – 7/28/2025

Did You Know?

* After 3 years of anemic transaction volumes, large real estate deals are making a comeback, according to Lowell Baron CEO of Brookfield Asset Management’s real estate business who has sold $13 billion of property already this year, including major deals in the US, Spain and Australia, in a sign that liquidity is returning even for larger portfolios….up from $3 billion in the first half of last year and just $2 billion in the first 6 months of 2023. (Bloomberg)

* So far in 2025, investors who buy homes to flip or rent out have made up about 30% of purchases of both existing and newly built single-family homes, the highest share in 14 years. Small investors made up about 25% of these home purchases while large investors accounted for about 5%. (WSJ)

* A 15% tariff will now be applied to most goods coming in from Europe to the US:  it remains to be seen if this cost will be passed on fully or partially to the consumer. Many luxury building supplies are sourced in Europe including appliances like Miele, Gaggenau, La Cornue, ….furniture, kitchen cabinets, faucets, light fixtures, etc, etc. This may encourage people to buy more locally sourced building products. Will local producers raise prices because of increased demand? Will European exporters lower quality standards to absorb this cost to retain profits? Or will LUXE-flation be the most impacted, eating up any gains from lowered taxes? We will find out soon…. (CNBC)

* Tariffs will cost the global economy, reaching $2 trillion by the end of 2027 relative to its pre-trade war path.  (Bloomberg)

* What happens in Vegas… Visits to Vegas in the first 5 months of 2025 were down 6.5% compared with the same period last year. Foot traffic on the Strip is also lower. Hotel occupancy fell by 14.6% in June compared with June 2024 and revenue per available hotel room fell by 19.2%. Around 30% of Las Vegas visitors come from Canada. (COSTAR)

Mortgage Rate Updates:

The average rate on a 30-year fixed mortgage backed by Freddie Mac fell by a marginal 1 bps from the previous week to 6.74% as of July 24th, holding above its lowest since April of 6.67% seen three weeks ago. “This week, the 30-year fixed-rate mortgage essentially remained flat at 6.74%. Overall, the backdrop for the housing market is positive as the economy continues to perform well with solid employment and income growth,” said Sam Khater, Freddie Mac’s chief economist. 

Source: Freddie Mac