Evening star., 1935-02-09
INCREASES SHOWN
IN REALTY PRICES.
More Active Market Also Is
Reported From 268 Lead
ing Cities.
Continued From First Page.)

Ual. buC u per CeIlI VI Cllc NCly -uA6CoV
cities report capital seeking loans,
condition that has not been shown in
these surveys in any population group
or in any geographical section OF the
country since June. 1929. But in prac-
tice terms are likely to be prohibitive.
"Plenty of money, but hard to get" is
q very general report.
6. Interest rates for real estate
money show tendency to fall. There
has been so little lending that interest
trends and rates cannot be reported
with exactnesS, many cities point out.
A more active real estate market Is
reported by IS per cent OF the cities, a
less active market by only per cent
of the cities, while 27 per cent report
activity on about the same level as last
year. Increased activity has evidently
come first in the larger centers. Ot
cities over 100000 population. 88 per
cent show a more active market, ana
none less active market.
Selling prices have gone up very
generally in these largest cities, II
per cent of which report higher
prices. and none of which report fall
ing prices. For cities generally, prices
are still on last years level N 81
per cent of the cities reporting, are
already higher in 35 per cent of the
cities and are lower in only -
per cent.
South Atlantic Section Leads.
Geographically. the South Atlantic
section leads, with 81 per cent OF its
cities reporting greater activity; none
showing less activity, and with At
per cent of its cities reporting higher
prices: none reporting lower prices.
Space absorption and rent trends
must be studied together. 1t is sig
nifiCant that while single family
dwellings show the most general
shortage, and were the first to show
up trend in rents, apartment space
is at present showing the most gen.
eral rent advance.
Only per cent of all cities report
ing show any remaining over-supply
of single family dwellings. Actual
shortage is reported by SO per cent
of the cities. normal balance of sup
ply and demand by AZ per cent.
Every city of the two largest popula-
ton groups reports either a shortage
or a normal balance; none show any
remaining over-supply. Geograph-
ically, the most general shortage is
shown in the West South Central
group and in the Pacific Coast group.
in each of which 73 per cent OF the
cities make this report.
Shortage in apartments is reported
in 80 per cent Of the cities, normal
supply-demand situation in so per
cent and an over-Supply still in 10
per cent.
Rents Going Up.
Residential rents are very generally
going up. Spread of change IS as
follows: For single family dwellings
higher rates are reported in So per
cent Of the cities, stationary condi-
ton in SO per cent of the cities. Only
9 per cent show a down trend. For
apartment space, 81 per cent of all
cities show up trend, 80 per cent
stationary situation, and per cent
down trend. There is practically
no down trend in any city of over
100. 900 population. Spread of change
varies with the size of the cities.
Of cities Of over 100000 population,
SO per cent report higher rates for
single family dwellings, 100 per cent
report higher apartment rates. or
cities of 100000 to 100000 population,
78 per cent are up as to single family
dwellings, 73 per cent are up in
apartment rates. OF cities in the
100000 to 100000 class, Sc per cent
show higher rates for residences, SIS
per cent for apartments. OF cities
under $4,000 population, 43 per cent
show higher rents for single family
dwellings, IS per cent show rise
for apartment space.
Wide geographical variation is
shown. For single family dwellings
percentage Of cities reporting rents
up is rs per cent of the West South
Central group, 81 per cent of the
East North Central group and only
20 per cent of New England cities.
Higher apartment rents are reported
by II per cent of the South Atlantic
cities, 66 per cent of the East North
Central group, and only per cent Of
New England cities.
Rents for central business property
are moving higher in % per cent of
the cities reporting. They hold to
last years level in "a per cent and
are lower in IA per cent. Outlying
business properties are reported lower
than last year in II per cent Of the
cities, stabilized in "a per cent and
higher in only per cent.
Office building rents lag consider
ably behind the business property
rents, and while predominantly on a
level with last year, show some ten
dency to be lower, particularly in out
lying districts. No city of over 200,-
900 population reports any higher
rents. either for central or outlying
office property.
Subdivision Market Active.
AS to subdivision market, greater
activity is reported in IA per cent of
the cities, stationary condition in sc
per cent of the cities, market less &C.
tive than last year in 20 per cent
Of the cities. Very little geographic
variation is shown.
The survey through a special queS-
tionnaire gives the first indication OF
change now taking place in regard te
sources of supply for real estate
capital.
Real estate boards were asked: st:
1t now possible, in actual practice
to obtain loans for new home build.
ing in your community? Answer:
from 249 cities were almost exactly
$3.50, as between yes and no.
In a second question boards were
asked to check types of financing
agencies from whom, in actual prac'
tice, loans for new home building
may be obtained. OF the 1913 citie'