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Only four conduit deals were priced during the first quarter.
The worst affected market was Boise, ID, where the cost of a home fell 15.4% in the year.
So far construction starts have yet to be impacted by tightening financial conditions.
In many cities, residents need to earn more to have the purchasing power of a $100,000 salary.
Rent price growth drops to 5% and some affordable cities become wins as places to live.
Industry experts, though, believe there will be slowdown for the remainder of 2023.
The average cap rate on QSR transactions is about 62 basis points lower than a STNL deal.
Northeast Dallas was the most-sought neighborhood with 36,113 views.
The spread between vacancy and availability has "rarely been this wide."
Preleasing is up by 7.8 percentage points compared to a year ago.