Economy exceeds expectations in fourth quarter. Annualized gross domestic product jumped 6.9 percent in the final period of last year, largely on the back of an increase in inventories. Personal expenditures contributed nearly 2.3 percent to last quarter’s gain, primarily due to holiday spending that was spread throughout the period…
Read MoreMortgage rates surge to a pandemic-era high. Following a steady but mild ascent at the end of last year, the growth trajectory of the 30-year mortgage rate became much more extreme in January. The rate climbed more than 40 basis points over the span of a few weeks to the mid-3 percent range, nearly realigning with the late 2019 measure…
Read MoreConsumers step back in December. Core retail sales dipped 2.5 percent last month as spending that usually occurs closer to the holidays was spread over a longer shopping season. Furthermore, the highly contagious omicron variant of COVID-19 elevated case counts…
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As we round out the first month of the year, how should we adjust our expectations of CRE performance in 2022?
Read MoreIn rare feat, unemployment drops below 4 percent. Employers added 199,000 personnel to payrolls in December, below the 2021 monthly average of 537,000 jobs, while the unemployment rate fell 30 basis points to 3.9 percent. Of the past 22 years, fewer than three have been spent with sub-4 percent unemployment…
Read MoreSwell in homebuying inflames shortfall. In late 2021, the single-family housing landscape mirrored the conditions witnessed earlier in the year. For-sale inventory of both existing homes and finalized new homes trailed historical averages. Meanwhile, the desire for residences remains very strong…
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As we prepare for 2022, here are 3 bold predictions for commercial real estate. Improvements in recovery, continuing headwinds, and increasing inflation threats…
Read MoreRetail sales continue to float well-above pre-pandemic levels. Consumers acted on holiday shopping plans earlier than normal, resulting in more moderate improvement in retail spending last month than is typical for this time of year. Core retail sales ticked up 0.2 percent in November, driving the year-over-year gain to an impressive 16.5 percent…
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