Friday, October 21, 2011

Morning Real Estate Review

Architects see drop in billings (Realestaterama) Billings by architects, which tend to run 9 to 12 months ahead of construction, have fallen 4 out of the last 5 months.

Existing home sales up in September over last year (Wall Street Journal) Sales are lower than August, but 11.3% higher than in September of 2010. Mortgage commitments, however, are trending lower.

Apartment project planed for Wheaton (Gazette) AvalonBay site in downtown Wheaton was abandoned in 2009 when Safeway declined to relocate there, but a new owner will now pick up where AvalonBay left off.


Critically Urban on Oct 21, 2011, 8:54:00 AM said...

That's not a surprise. Developers and property owners have had architectural plans prepared and on the back burner for a few years now. While some of this may indicate a downturn, it's quite possible that projects that were shelved during the depth of the downturn are now being brought back online and there's no need to hire an architect to do that.


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