Tight multifamily vacancy supports permit surge. Across residential sector, permit activity climbed in August. The rise was mostly attributed to multifamily, as flings for single-family houses remained relatively in line with preceding months. Meanwhile, apartment permits soared 15 percent month over month…
Read MoreCore retails sales reverse course in August. Shoppers remained active at the end of the summer, driven by online spending and back-to-school sales. Overall, core retail sales increased by 2.0 percent between July and August, largely due to an increase in nonstore spending of 5.3 percent…
Read More
This latest investor sentiment survey results point to optimism in 2H 2021. Overall sentiment is stronger than in ‘16, ‘17, ‘18 and ‘19, reiterating the momentum of commercial real estate….
Read MoreCompletions climb to a three-month high. Builders finalized more single-family and multifamily housing units combined in July than in either of the previous two months. Deliveries will likely trend higher in the coming quarters as well. The moderation in the cost of a few key materials, most notably lumber, has boosted permit activity and is helping the pipeline of stalled residential developments…
Read More
Supported by the economic reopening, job openings surged to a record high 10.1M in June. Meanwhile, the labor force has 8.7M unemployed persons in July. This disconnect in hiring is weighing on CRE performance…
Read MoreOn Aug. 3 the Centers for Disease Control and Prevention enacted a new order halting residential evictions in counties with substantial or high levels of COVID-19 community transmission. As of Aug. 17, most counties in the U.S. met that criteria, effectively extending a ban on residential evictions…
Read More
Increased spending, job growth, and the re-opening of the economy supported strong CRE performance in 2Q. Apartments saw one of the strongest quarters…
Read MoreUnemployment steadily tightens. Job creation surpassed 900,000 new positions for the second consecutive month in July, lowering the unemployment rate 50 basis points month over month to 5.4 percent. While above the historically low 3.5 percent unemployment recorded just prior to the pandemic, the measure is still below…
Read More