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"These small owners who didn't have the cash to survive this are simply cashing out to try and save their retirement income."
Homeowner interest in larger homes has ticked up over the last 12 months
The city's share of institutional investor volume remained stable throughout the pandemic.
Asking rents for Class A office space in Miami Beach have rebounded to $56.66 per square foot.
"Consequently, taking rents will remain a better gauge of the market's strength than more traditional metrics."
In some markets, the dying percentage may be closer to 50%, Moody's says.
Multifamily increases are coming in at 10.1% year-over-year.
Multifamily properties posted the sharpest decline in days-on-market, according to Crexi.
Supply shortages are also exacerbated by a lack of skilled labor, and those problems won't be solved by falling materials prices and resolved supply issues.
The average urban office sales price has risen to $429 per square foot, a 4.5% increase over 2020.