Market Commentary

Real GDP rose at a 6.5% annual rate in the second quarter of 2021, and the details of the GDP report have several positive implications for the outlook for commercial real estate markets and REITs.

REIT share prices rose for the third straight week, with the FTSE Nareit All Equity REITs Index posting a total return of 0.3%.

The recovery in commercial real estate markets is proceeding unevenly across the various property types through the second quarter of 2021

REIT share prices were little changed in the week ended July 16, with a total return of 0.5% on the FTSE Nareit All Equity REITs Index.

New research shows REITs win a majority of head-to-head comparisons between domestic and international private equity real estate funds and REITs.

Retail sales grew a surprising 0.6% in June, demonstrating the strength of the consumer sector as the economic reopening continues.

REITs posted significant gains last week, with a total return of 2.5% on the FTSE Nareit All Equity REITs Index

The pandemic and subsequent recovery have changed the outlook for both interest rates and inflation.

The FTSE Nareit All Equity REITs Index delivered a total return of 12.0%, bringing the year-to-date return to 21.3%.

The FTSE Nareit All Equity REITs Index rose last week, with a total return of 1.7%. Last week’s increase brought year-to-date returns to 22.7%.

Retail sales in May were 10.9% above recent trends, despite declining slightly from April. Brick & mortar sales are healthy even as e-commerce grows.

DEI programs and activities, designed to empower employees to bring their “whole self” to work, helped AvalonBay provide ongoing support to its associates.