RealtyRates.com Developer Survey Reports Modestly Increased Discount Rates For All Sell-Out Property Types During 4th Quarter 2020
Prices continued their upward trend and inventories continued to tighten, modest increases in average discount rates for all sell-out property types were reported during the 4th Quarter of 2020.
Site-Built Residential Subdivision and PUD rates increased an average 12 basis points, as did Manufactured Housing rates during the 4th Quarter. Business Park rates were also up 13 basis points and Industrial Park rates increased an average 12 basis points during the same period. Residential Condominium and Co-Op rates meanwhile were up 14 basis points. Meanwhile, Commercial/Industrial Condominium rates increased 22 basis points.
Overall, pro-forma and actual discount rates moved largely in tandem, indicating a market consistent outlook by developers.