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.

  • 5/10/2013

    Economic Update (May 10, 2013)

    Federal revenues signal a stronger economy Federal government revenues are closely related to the strength of economic activity, because as workers’ incomes and business sales rise and fall, their tax payments follow suit. The U.S. Treasury...
  • 5/9/2013

    Commercial Property Update 2013:Q1 (May 9, 2013)

    The pace of recovery in the property sector slowed a bit in the first quarter, and vacancy rates remain quite high in office and retail sectors. Economic fundamentals continue to firm, however, and the increasing momentum will likely more than...
  • 4/30/2013

    Economic Update (April 30, 2013)

    Strong Rental Demand Still Driving Fundamentals for Multifamily Housing The demand for rental housing continued its strong growth in the first quarter, with total rental household growth accelerating to a 3.1 percent annualized rate. The number of...
  • 4/26/2013

    Economic Update (April 26, 2013)

    Another disappointing GDP report GDP growth in the first quarter fell short of expectations, with a 2.5 percent annualized increase (consensus had expected 3 percent growth or more). This is roughly in line with the economy’s potential growth rate...
  • 4/10/2013

    Economic Update (April 10, 2013)

    Does the dismal employment report for March warn that the economy has stumbled again? Nonfarm payrolls rose just 88,000 in March, a far cry from the 190,000 that analysts had expected, and the weakest monthly hiring since July 2012 [first chart...
  • 2/28/2013

    Economic Update (February 28, 2013)

    Budget issues are likely to slow economic growth relative to baseline... but what's happening to the baseline? Two issues have dominated recent economic headlines: the impact on consumers of the increase in payroll taxes that took effect at the...
  • 2/7/2013

    Commercial Property Update 2012:Q4 (February 7, 2013)

    Commercial property markets improved in late 2012 despite uncertainty about the fiscal cliff. Apartment vacancies declined further while office rents posted the strongest gain in years. The retail sector is moving sideways. Economic growth was mixed...
  • 12/13/2012

    Economic Update (December 13, 2012)

    Economic Update (December 13, 2012) The employment report for November was in line with consensus expectations, with an increase in payroll employment of 146,000, but a moderate downward revision to the October figures. The unemployment edged down...
  • 11/6/2012

    Commercial Property Update 2012:Q3 (November 6, 2012)

    The commercial property market recovery took a breather in Q3, with smaller improvements in vacancies and slower rent growth in all main property types. Economic fundamentals began to regain momentum more recently, suggesting better times ahead....
  • 8/16/2012

    Economic Update (August 16, 2012)

    The manufacturing and industrial sector has had a choppy recovery around a rising trend: Manufacturing production rose 0.5 percent in July and is 5.0 percent above a year ago; Output is still 5 percent below its pre-recession peak (Chart 1...

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