Nareit Market Commentary

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.

  • 12/10/2019

    What to Watch for REITs and the Economy in 2020

    Today’s economic environment has no historical precedent. What markers can we rely on as the economy and commercial real estate move into uncharted waters?
  • 12/9/2019

    November Jobs Report Shows it’s not a “Late Cycle” World

    Nonfarm payrolls rose 266,000 in November, well above consensus forecasts and the strongest gain since January.
  • 11/15/2019

    REITs Reported $15.8 Billion Total FFO in Q3: Nareit T-Tracker

    Earnings growth broadened across the REIT sector in the third quarter, with 65.9% of REITs reporting higher FFO than one year ago.
  • 11/8/2019

    Strong Demand for Apartments Leads Mixed CRE Markets in Q3

    The economic fundamentals for CRE markets maintained momentum in Q3, with GDP growth on trend and modest job gains.
  • 10/28/2019

    Recession Risks, Commercial Real Estate and REITs

    How likely is it that the current slowing could lead to a recession? How exposed are real estate markets and REITs to deteriorating macroeconomic fundamentals?
  • 10/1/2019

    REITs and Inflation Protection

    Real estate rents and values tend to increase when prices do, due in part to the fact that many leases are tied to inflation.
  • 9/19/2019

    Commercial Property Prices: Risk or Reward?

    Commercial property prices can be a double-edged sword. When they are rising, they can provide investors with solid capital gains above and beyond the income received from rents. But if they rise too rapidly and get ahead of fundamentals, investors risk losses from falling prices.
  • 9/11/2019

    What are Workers Telling Us About the Outlook for Real Estate?

    The JOLTS report on labor market turnover can help shed light on the outlook for the economy and for real estate.
  • 9/10/2019

    REIT Interest Exposures are Down—Especially in the Tails

    REITs have strengthened their balance sheets over the past decade, with average leverage and interest expense to NOI falling to historical lows. Averages, however, don’t reveal what is going on in the tails and if there are hidden pockets of risks.
  • 9/9/2019

    REITs Ramp Up Equity Issuance as Outlook Brightens

    REITs issued $19.2 billion in secondary offerings of common equity during the first half of 2019, which is more than they raised during the entire year of 2018.

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