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.

  • 10/19/2020

    Consumer Spending Is on Track Heading Into Holiday Season

    Retail sales jumped 1.9% in September, beating expectations by a wide margin, as consumer spending has recovered ground lost early in the pandemic and marches steadily higher. Despite worries about the job market and risks to the economic recovery,...
  • 10/19/2020

    REITs Declined Last Week

    Last week’s decline breaks a string of gains the to prior weeks, but REITs are still up 2.1% month-to-date.
  • 10/15/2020

    Tracking Credit Rating Changes During the Pandemic

    REITs outperformed most other GICs sectors with only 5.8% of the REIT market cap downgraded. REITs were the third best performing GICS sector by this measure.
  • 10/15/2020

    Retail Property Markets and REITs are Recovering

    E-commerce surged in the spring, but stores are reopening and curbside pickup is a popular hybrid of online shopping and bricks-and-mortar delivery. Many shoppers enjoy the retail experience and still prefer to check the size, fit, and appearance at a bricks & mortar store.
  • 10/13/2020

    REITs Gained Ground Last Week

    This was the second week of rising share prices, after four straight weeks edging lower through September.
  • 10/6/2020

    How Will Work-from-home Affect Office Markets Over the Medium- to Long-term?

    The next few years will almost certainly see a move towards less density, and it is unclear how much overall demand for office space will decline due to WFH if there is an offsetting increase in the space per worker.
  • 10/5/2020

    REITs Rally Outpaced Broader Markets Last Week

    REITs rallied last week, with the FTSE-Nareit All Equity REITs index posting a total return of 5.5%, trimming the year-to-date decline in total returns to the single digits.
  • 9/28/2020

    REIT Share Prices Fall Last Week

    Last week concerns about economic growth and continued consumer resiliency to COVID-19 led to REIT stocks underperforming the broader equity indexes.
  • 9/21/2020

    COVID-19 and CRE: Short-Term Impact on Demand, but Longer-Term Structural Changes

    Since most economic activity takes place within a commercial real estate structure, these changes will impact how people use commercial real estate in the future.
  • 9/21/2020

    REIT Share Prices Stable Last Week

    REITs have been little affected by the turmoil in the broader stock market in recent weeks, especially among technology stocks.