Pandemic-driven disruptions to the supply chain have sent material prices surging. These material limitations combined with labor shortages will likely impact the development pipeline.
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As the stimulus dissipated, consumer spending dipped 0.8 percent in April as shoppers stepped back from record purchasing. Year over year, core retail sales jumped 37.6 percent, though the annual comparison comes against a backdrop of broad shutdowns in April 2020. Some of the slowdown can be attributed to…
Read MoreStrengthening economic tailwinds are brightening recovery expectations and spurring investment activity for well-positioned assets…
Read MoreGross domestic product surges in first quarter due to stimulus. In the opening three months of 2021, GDP jumped an annualized 6.4 percent, supported by consumer spending fueled by government funds. The economy should continue to grow…
Read MoreMost impacted sectors hire staff; overall job growth slows. The net 266,000 personnel added to payrolls in April fell below the prior month’s 770,000 new positions. While sectors hit hard by economic shutdowns, such as leisure and hospitality, continued to recruit, growth was tempered by losses in other sectors…
Read MoreHousing market signals dramatic suburban transformation. Homebuying is being driven in large part by changing demographic trends that have been accelerated by the health crisis. The aging of the millennial generation into the homeownership phase of life and more households seeking larger spaces in lower-density areas as they work and attend school from home have driven housing demand…
Read MoreSupply of homes on market tightens. The number of existing houses listed for sale retreated 32.6 percent year over year in February, the largest annual drop ever recorded, pushing inventory to an all-time low. The few listings that come to market are snatched up quickly, cutting the average days on the market to a new low of 20 days. The availability of residences affordable to most renters, those under $250,000, is particularly challenging…
Read MoreAmerican Rescue Plan touches all parts of the economy. The $1.9 trillion spending bill includes funding for individuals, states and schools…
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