The Washington times., 1928-12-29
SURVEY SHOWS
REAL ESTATE
NEEDS

The semi-annual survey OF the
real estate market just completed by
the National Association Of Real
Estate Boards, covering 341 cities,
shows the market was more active
than 1t was year ago in 35 per
cent OF the cities reporting. while
S5 per cent reported the market
the same as last year and 80 per
cent reported less activity. Selling
prices were reported higher than a
year ago by IA per cent of the
cities. the same in So per cent and
lower in 34 per cent.
Rents OF single family dwellings,
were reported higher than a year
ago by 2 per cent of the cities, the
same in SIS per cent and lower in
36 per cent. Rents in two-family
dwellings were reported higher than
a year ago in s per cent Of the
cities, the same in "a per cent and
lower in 40 per cent. Apartment
rents were reported higher than q
year ago in 16 per cent Of the
cities. the same in 6S per cent and.
lower in 16 per cent.
OF the cities covered by the sur.
vey is per cent reported more ac-
tivity than year ago in the sub
division market. AZ per cent re-
ported the same and AZ per cent
reported less activity.
Building Types
On the supply of various types
of buildings. SIS per cent of the 341
cities reported q normal supply Of
single family dwellings,: 20 per cent
reported a shortage in single-family
dwellings and Is per cent reported
overbuilding. A normal supply Of
apartments was reported by SIS per-
cent of the cities while "a per cent
reported shortage and 20 per cent
an over supply. In business prop
erty, rs per cent of the cities re-
ported normal supply. 10 per cent
shortage and II per cent of the
cities reported an over-supply.
Rentals in central business prop
erty were reported the same in So
per cent of the cities. higher 3S
per cent and lower in 2 per cent
than last year. Rents in outlying
business property were reported the
same in 81 per cent, higher in
10 per cent and lower in % per
cent of the 341 cities.
Rents in central office buildings
were reported the same as last
year in 50 per cent of the cities
higher in 2 per cent and
lower in 2 per cent, while rents
in outlying office buildings were
reported the same as last year in
79 per cent of the cities, higher
in 2 per cent and lower in 10 per
cent.
OF the cities covered by the SUR
vey 48 per cent reported that in the
mortgage money market capital is
seeking loans, SO per cent reported
an equilibrium between the supply
of capital and the demand for
loans and is per cent reported de-
sirable loans available In excess of
the supply OF capital.
Interest Rates
Seventy-four per cent of the
cities reported interest rates OH
mortgage loans We're rising.
While the total figures for the
United States and Canada report
the same activity as year ago in
the real estate market in IS per
rent of the cities. more activity in
35 per cent and less activity in 30
per cent. various sections of the
United States and Canada show
marked variations from these per.
centages.
Thus the market was reported to
be less active in New England by
63 per cent of the cities, with 90
per cent reporting more activity; at
the other extreme Is per cent of
the Canadian cities covered by the
survey reported more activity than
a year ago while none reported less.
A marked increase in activity was
SHOWN particularly In the West
North Central, South Atlantic and
Mountain sections. By grouping
the cities according to size, Sc per
cent of the cities having a popAla-
ton over 100000 reported greater
market activity than year ago.
The sections showing the largest
percentage Of cities reporting higher
prices are the West South Central
section in which 80 per cent of the
cities reported higher prices and the
mountain section in which Al per
cent of the cities reported prices
higher.
OF the cities having populations
over 100000, S3 per cent reported
prices the same as year ago.
while II per cent reported lower
prices and none reported higher
prices. In cities having a popula-
ton of 100000 to 100000, AZ per
cent reported prices the same as
a year ago, 4 per cent reported
lower prices,~ and II per cent re-
ported higher prices.