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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Private Value-Add/Opportunistic Real Estate Net Total Return Spreads Disappoint
A recent Nareit commentary explored average annual net total returns for REITs and total private real estate, as well as private real estate investment styles, using realized pension fund performance from CEM Benchmarking.
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Realized Pension Fund Returns Highlight REIT Outperformance
CEM Benchmarking’s 2026 study, sponsored by Nareit, provides a comprehensive look at realized investment performance across asset classes, including real estate and its investment styles, over a 26-year period (1998–2023) using a dataset covering public and private sector pensions with nearly $4 trillion in combined assets under management.
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REITs Raised $10 Billion in Capital Offerings in 2026: Q1
REITs have raised approximately $10 billion in 2026, a figure that does not include first quarter ATM issuance due to a lag in reporting.
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Hazelview’s Dynamic Alternative REIT Strategy to Diversify Client Portfolios
This case study demonstrates how certain strategies can utilize unique investment tools to achieve client objectives and risk preferences to enhance their investment experience with listed real estate.
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Global Real Estate Gains Slowed in March as North America Outpaced Asia & Europe
The FTSE EPRA Nareit Developed Index posted a total return of 1.3% through the first quarter of 2026, while the FTSE EPRA Nareit Developed Extended Index returned 0.9% for the same period.
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REITs vs. Private Real Estate Funds: Partners, Not Rivals: Comparing Top Performing Funds
A recent research note by Hodes Weill & Associates (HW) called REITs versus Private Real Estate Funds: Partners, Not Rivals addressed the merits of public and private real estate in an institutional investor’s portfolio.
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REITs vs. Private Real Estate Funds: Partners, Not Rivals: Same Sentiment, Better Data
Hodes Weill & Associates (HW) recently published a thoughtful research note, REITs versus Private Real Estate Funds: Partners, Not Rivals, that addressed the merits of public and private real estate in an institutional investor’s portfolio.
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Stuck in a Rut: Private Real Estate Appraisal Shortcomings Benefit REITs
The wide gap between public and private real estate valuations has remained stubbornly slow-to-close.
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Beyond the Three Approaches: How Valuation Support Indicators Can Strengthen CRE Appraisals in Volatile Markets
The traditional real estate appraisal process works reliably during relatively stable real estate markets but reliance on the three established approaches—cost, sales comparison, and income—can be challenging when markets are volatile.
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REITs Underperformed Broad Market Equities in March; Outperforming Year-to-Date
On a year-to-date basis as of March 31, REITs have outperformed broad market equities with the FTSE Nareit All Equity REITs Index posting a total return of 3.8%, while the Dow Jones U.S. Total Stock Market fell 4.0% and the Russell 1000 fell 4.2%.
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REITs Outperform as Divergence with Broad Equity Market Narrows
While broad equity and REIT market valuation dislocations may be uncommon, historically, they have presented buying opportunities for REIT investors.
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Early Robust Gains May Signal Strong Year for REIT Performance
REIT performance began 2026 with a strong start.