Nareit Market Commentary

The Market Commentary blog on 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.

  • 5/11/2020

    REIT Markets Edged Higher for the Second Week; Volatility is Down

    Most sectors were up, including a 10.3% total return for timber REITs, a 6.9% total return for specialty REITs and 6.7% total return for commercial financing mREITs.
  • 5/8/2020

    April Employment Report Shows Record Job Losses, Unemployment

    The two largest risks to the economy from recent layoffs are that job losses spread from the front-line sectors into the broader economy, and that temporary layoffs translate into permanent job losses.
  • 5/6/2020

    The Importance of Real Estate and Rent in Reopening the Economy

    Putting the pieces of connected commerce together in the COVID-19 era.
  • 5/4/2020

    Updated REIT Industry April Rent Collections

    Using the public data along with the privately collected Nareit data, this research note presents a fuller picture of the industry’s rent collection for April.
  • 5/4/2020

    Most REIT Sectors Edged Higher Last Week

    Nine of the 14 REIT sectors posted a positive total return.
  • 4/29/2020

    COVID-19 Shutdowns Impacted CRE Markets Right Away

    The business closures and social distancing designed to slow the spread of COVID-19 had a significant impact on demand for commercial real estate, vacancies and rent growth across the major property sectors.
  • 4/27/2020

    Market Conditions Calm a bit for REIT Returns

    Last week the index posted a total return of negative 4.5%, the second week of single-digit moves after much sharper gyrations both up and down in the early stages of the crisis.
  • 4/24/2020

    Weakness in Durable Goods Orders Focused on Transportation

    We are not expecting a “V” shaped recovery because some effects of the virus are likely to remain for quite some time. This news on durable goods orders, though, is consistent with underlying business fundamentals remaining intact for now despite the shutdown.
  • 4/20/2020

    REIT Share Prices Little Changed Last Week, Q1 Earnings Season Opens Soon

    In more normal times a weekly move up or down of nearly 4% would be major news, but in a period of heightened volatility during the covid-19 crisis, this is the smallest move in quite a while.
  • 4/20/2020

    Nareit Member Survey Results on COVID-19 and April Rent Collections

    Fifty-four listed equity REITs responded between April 8 and April 15, representing most property sectors and almost $418 billion in equity market capitalization or 44% of the FTSE Nareit All Equity REIT equity market capitalization.