The Market Commentary blog on reit.com presents analysis of the macro- and micro-economic fundamentals impacting the REIT and commercial real estate industry. The Nareit economics team offers their commentary on the state of the market, the outlook for commercial real estate and breaking macroeconomic news. The opinions set forth here are solely those of its author(s), and do not necessarily reflect the views of the Nareit or its membership.
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REITs Declined in October While Industrial, Data Centers Outperformed
The FTSE Nareit All Equity REITs Index fell 2.2% in October, with most of the losses concentrated at month-end, as markets responded to company news about earnings risks and the possibility that the Federal Reserve will not be lowering rates any further for the time being.
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GRESB 2025 Results Highlight Continued Sustainability Leadership Among REITs
In October, GRESB released its 2025 Real Estate Assessment results. The GRESB Real Estate Assessment measures the sustainability performance of individual real estate portfolios based on self-reported data.
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REITs Supported 3.6 Million Jobs, $283 Billion in Labor Income, in 2024
REITs supported an estimated 3.6 million fulltime equivalent (FTE) jobs in the United States in 2024, producing $283 billion in labor income, according to EY’s latest Economic Contribution of REITs report, commissioned by Nareit.
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Private Real Estate Appraisals’ Disconnect from Market Conditions Boosts REITs’ Appeal
A recent Nareit commentary highlighted the stubbornly slow-to-close and wide public-private real estate cap rate spread.
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REITs Raised $21.3 Billion in Capital Offerings in 2025: Q3
U.S. REITs raised $21.3 billion from secondary debt and equity offerings in the third quarter of 2025. Of that total, $14.0 billion came from debt offerings, $6.6 billion came from common equity offerings, and $740 million came from preferred equity offerings. The first REIT IPO of 2025, with a focus on the data center segment, priced on September 30 and began trading in October.
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Global Active Manager Tracker Highlights Regional Differences in Property Sector Investment
Active managers of global real estate funds make strategic use of both geography and property sectors in investing over time.
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Global Real Estate Rose Narrowly in September
The FTSE EPRA Nareit Developed Extended Index posted a total return of 0.5% in September.
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REITs Edge Higher in September, Led by Specialty, Health Care, Office
The FTSE Nareit All Equity REITs Index rose 0.4% in September as the Federal Reserve, noting the softening labor market, cut the federal funds rate by 25 basis points.
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Warren Buffett, Real Estate, and the REIT Solution
For 60 years, investors have flocked to the Berkshire Hathaway Annual Shareholders Meeting.
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REITs Likely to Retain Performance, Acquisition Edge as Public-Private Valuation Dislocation Persists
As highlighted in a recent Nareit commentary, the current lingering public-private real estate valuation divergence has been an unwanted visitor for commercial real estate (CRE).
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New Actively Managed Global Real Estate Funds Tracker Shows Diversity in Geographic, Sector Holdings
The new global active manager tracker follows the quarterly investment holdings of the largest actively managed funds invested globally, not just in the U.S.
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Private, Listed Real Estate Diverge on Traditional Property Sector Investment Choices
Active managers in the REIT space differ significantly from those in private real estate principally in their investment in non-traditional property sectors.