Evening star., 1934-02-10
IMPROVED REALTY
TREND CONTINUES,
SURVEY REVEALS
National Association Holds
Decline in Selling Prices
Has Stopped.
DOWNWARD MOVEMENT
IN RENTS is CHECKED
Shortage of Single Family Dwell
ings and Apartment Space
Found in Some Cities.
BY VINCENT TUTCHING.

BY VINCENT TUTCHING.
In the current national inventory
of the National Association of Real
Estate Boards. Just made public, these
points outstand:
l. There is a shortage OF single
family dwellings in many cities that
did not report this condition six
months ago.
2. In smaller cities there is short
age of apartment space.
3. The downward trend in rents
has been checked and in both resi-
dental and business properties an
upward movement has begun.
4. Although real estate price levels
still are at maximum lows there are
indications that the decline in selling
prices has stopped.
The dearth of money supply
continues in every section.
6. Interest rates are rising in SO
per cent of the cities of the size of
washington and greater.
Definite Improvement.
BY and large, the real estate
picture is showing some symptoms of
definite improvement, the national
association says in its twenty-second
annual report on a survey of 273 of
the leading cities of the country,
based on confidential reports from
its members.
Comparing the current survey with
q similar one conducted six months
ago, the realtor body says the up
ward trend in market activity, which
appeared evident in June last, for
the first time since the middle of
1929, is continuing.
The current survey" says the re-
port, Shows the upward dominance
continuing, with 81 per cent of the
cities showing more active market
than existed year ago, and only 81
per cent with less active market.
The South Atlantic region, including
the District, with Sc per cent of it's
cities showing an upward trend, and
the West South Central section, with
II per cent, lead the movement"
In its survey a year ago the asSo-
citation found 65 per cent of the 273
cities included in the inventory re-
porting 'less active" market con-
dition.
Advantageous Buying Period.
From the standpoint of the pur-
chaser, the association says the pres
ent is a most advantageous buying
period.
Lower selling prices than pre-
vailed at this time a year ago are
shown in so per cent of the cities
reporting" the report says. prices
are at about last years level in 43
per cent of the cities. They have
gone up In per cent of the cities
reporting In the survey of a year
ago 80 per cent of the cities showed
lower selling prices, while less than
! per cent at that time showed the
price level going higher.
"a marked change in the last six
months is shown in supply of single
family residences. Actual shortage in
this type of structure exists in 27 per
cent of the cities reporting, whereas
only IL per cent showed such short
age six months ago and only Z per
cent a year ago.
Shortage is shown by SO per cent
OF the cities in the West South Gen.
trail section, 40 per cent of the New
England cities reporting. 40 per cent
of the Pacific Coast cities reporting,
and by 33 per cent of the cities in
the Middle Atlantic section. Percent
age of cities showing shotage in other
sections is as follows: South Allan
tic section, Is per cent; East North
Central section, % per cent: West
North Central section, % per cent;
East South Central section, 38 per
cent, and Mountain section, IA per
cent.
Prevalent in Smaller Cities.
1.-THE condition of shotage appears
to be more prevalent in the smaller
rather than the larger cities, but no
city of over 100000 population re-
ported an oversupply of this type of
structure, and IA per cent of this
group showed a shortage.
Shortage in apartment space Is
shown in II per cent of the cities
reporting, as against per cent SO
reporting six months ago. The num-
Der of cities showing oversupply has
peen CuC QoWn u 20 pei SciiI VI tiiOSc
reporting, as against SO per cent six
months ago. In the New England
section 20 per cent of cities report a
shortage. However, in the whole sur
vey. no city of over 100000 popula-
ton reported any apartment shortage
and rs per cent of the cities of over
100000 population indicate over
supply.
mot a single city in any section re-
ported shortage of business prop
erty. Overstock was reported by Al
per cent, as against Al per cent ol
the cities six months ago.
THE down tendency in rents is still
dominant, but first signs Of an upturr
appear. Two-family dwellings and
central business property show the
most general stiffening. Higher rents
ho e.. H.