Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-31
SURVEY INDICATES
GENERAL STABILITY
Trend of Real Estate Market
Shows Little
Change.

A generally stabilized condition in
real estate is indicated by a survey
OF the real estate market for The
United States and Canada. which has
just been completed by the National
Association of Real Estate Boards,
OF the $40 cities covered by the sur,
tey 40 per cent report the market Ia
be somewhat less active than last
year, IS per cent report il at the same
level as last year. and rs per cent re-
port q greater activity Than last year
Selling prices are reported higher IN
IA per cent of the cities. the same as
those of last year in 81 per cent of the
cities and lower in 20 per cent.
One hundred per cent of the cities
having population of 100000 or
more reported prices to be the same
as last year,
While the trend Of the monthly
index of real estate market activity
compiled by the association from the
official reports of transfers and con-
Veyances recorded in the 81 typical
cities has been downward since Feb
ruary. 1927, the total number OF
transfers represented by the index is
practically equal 10 any year on rec
ord.
Upward Trend for 1928.
Incoming data for the next monthly
index indicate that the curve will turn
upward toward the first of 1928, as II
has done in 10 out of l. years during
which the index has been compiled.
Rentals for all types of dwellings
show a downward trend as compared
with last year for the United States.
The large majority of cities reported
the rents of central business property
~ ehH a
$50. Rents in single.family dwellings,
are reported stationary in SIS per cent
Of the cities. higher in 10 per cent
and lower in - per cent than they
we're at this time last year. Apart
ment rents are reported stationary
in SIS per cent of the cities. higher
in per cent and lower in % per cent.
kitchenette apartments show a still
more stabilized condition. with rents
stationary in IS per cent of the cities
higher in 9 per cent and lower in is
per cent.
Rents in central business property
are reported stationary in So per cent
of the cities. higher in 80 per cent
and lower in Is per cent of the cities
ONCE building rents in central bust
ness districts are reported the same
SIS last year in IS per cent of the
cities, as higher in il per cent and
lower in II per cent. highly sta
biliZed condition.
Building Operations Normal.
AS TO degree ot existing overbuild-
Ing or undertaking, so per cent of
the cities reporting indicate some over
supply of business buildings, Is per
cent shortage OF this type of struc-
1ure and 81 per cent a normal supply.
y r1
Of the cities report a shortage. IS per
cent a normal supply and "a per cent
an oversupply. In apartment build
ings 30 per cent of the cities report
shortage, e5 per cent an oversupply,
43 per cent a normal supply.
Supply Of capital for real estate de-
veIopment is an important factor in
the national real estate and building
situation. Throughout the country.
and especially in Canada and in all
the larger cities, the survey shows a
large surplus of capital seeking invest
ment in real estate mortgage loans.
OF the cities reporting. so per cent
state that in their mortgage money
market capital is seeking loans. - per
cent report an equilibrium between the
supply Of capital and the demand for
losns. and only Is per cent report de-
Eirable loans available In excess Of the
supply OF capital.
Interest Rates Steady.
Interest rates on real estate mort
gage money are reported steady in 50
per cent OF the cities. falling rates are
the rule in IS per cent of the cities
and only s per cent show rising rates.
The survey shows thar the principal
decline in real estate activity this year
took place in the subdivision market
where 10 per cent OF the replies report
the same activity as last year, - per
cent report less activity and Is per
cent report more activity.
The survey shows Tess activity in
the more popuious sections OF the
country, with greater activity in less
6enseiy settled sections. which are ap.
psrently recovering from the depres-
sion OF the past few years. The sec
tons showing the largest percentage
Of cities reporting higher prices are
the West North Central section. in
which 30 per cent Of the cities report.
ed prices higher, and the West South
Central section. in which % per cent
Of the cities reported higher prices