Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-10

ported less activity in the West South
Central section, 70 per cent reported
less activity in the East South Central
section and 83 reported less activity in
Canada.
Selling Prices Drop.
In the United States and Canada,
taken as a whole, % per cent of the
cities reported that selling prices were
the same as they were year ago, l
per cent reported higher prices and rs
per cent reported lower prices. 1t
should be noted that the figures report
selling prices, large percentage of
which under present market conditions
represent forced sales Had the queS-
tionnaire called for report on changes
in real estate values, rather than prices,
the percentage of cities reporting
values the same as year ago would
undoubtedly have been much greater.
A normal supply of single family
dwellings was reported in "a per cent
of all cities reporting, whereas IA per
cent reported shortage and IL per
cent reported an overSupply. In apart
ments 81 per cent of the cities re-
ported normal supply, while IL per
cent reported shortage and 10 per
cent reported an oversupply. When
analyzed by sections these figures show
a more cratic distribution of over and
under supply in areas which reflect
rather spotted situation, but on the
whole the residential building situation
appears healthier than it was a year
ago. &c
In business property ga per cent OF
the cities reported normal supply,
where SO per cent reported an over
supply and only 8 per cent reported
a Shortage In this classification there
still is evidence of a considerable over
supply of business property in most
sections of the United States, except
the west North Central and the
mountain sections.
Rents Show Down Trend.
The outstanding feature in residen-
tial rents, as shown by the survey Is
the marked downward movement OF
rents in single family and two-famlly
dwellings, stationary rents being re-
ported in 80 per cent of the cities,
whereas Sc per cent reported lower
rents and per cent reported higher
rents. In two-family dwellings 80 per
cent reported stationary rents, per
cent reported higher rents and 50 per
cent reported lower rents.
Apartment rents were reported sta
tionary in so per cent OF the cities,
higher in per cent and lower IN 33
per cent.
Rentals in business property indicate
a greater percentage of decline in out
lying business properties than in cen,
trally located properties. Rentals OF
central business properties were re-
ported stationary in so per cent OF the
cities and lower in as per cent, whereas
in outlying business properties rentals
were reported the same in Al per cent
and lower in 81 per cent of the cities
reporting Higher rents for central
business property are reported by pei
cent of the cities Higher rents fol
outlying business properties were re-
ported by 2 per cent of the cities.
Office Rentals Steady.
ONCE rentals on centrally located
buildings were reported the same II
SO per cent Of the cities and lower In
81 per cent, whereas in outlying of1lce
buildings rentals were reported the
same by So per cent of the cities and
lower in AZ per cent.
The survey shows that in the SUBJ
division market 81 per cent of the
cities report the same activity as COM
pared with year ago, whereas 81 pei
cent report less activity and per cent
report more activity. This is not sur
prising when We consider the fact thai
the subdivision market is by nature
more speculative than the market fol
fully developed properties. The fact thai
as many as 80 per cent of the cite:
reported subdivision market activity thu
same as a year ago is probably ex
planned by the fact that the subdivision
market in many cities had become In
active a year ago.
OF the cities covered by the survey
rs per cent reported that in the mort
sage-money market capital is seeking
loans, "a per cent reported an equi
librium between the supply Of capita
and the demand for loans and 40 pc
cent reported desirable loans availabl
In excess of the supply Of capital. Whel
all figures are analyzed. however, tn
large supply Of funds available for in
vestment in the larger cities represent
marked contrast to the relativ