Analysis-US office market shows signs of bottoming after big discount sales [Yahoo! Finance Canada]
Eagle Bancorp, Inc. (EGBN)
Last eagle bancorp, inc. earnings: 4/22 04:15 pm
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Source: Yahoo! Finance Canada
Reuters, pointing to a string of sales of stressed properties at big discounts over the last quarter that have helped set a new pricing benchmark. The U.S. office property market has been hard hit since the pandemic by higher interest rates and as many office workers worked from home. Prices for office buildings have fallen 12.4% year-over-year as of the second quarter, according to the RCA Commercial Property Price Index, causing speculation about when a bottom in the market would be reached. "Peak distress is fully behind us," said Stephen Buschbom, research director at industry research firm Trepp, who added that what was now key is to have more deals struck to give the industry an idea on price. "We still have price discovery left," Buschbom said. "An increase in transaction volume will mean that's becoming more palatable for those holders." Throughout 2023 and the start of 2024, many developers and lenders chose to extend maturing loans with new terms or held off a sale t
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EGBN
Earnings
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EGBN
Sec Filings
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- 11/8/24 - Form S-4
- 11/7/24 - Form 10-Q
- EGBN's page on the SEC website