Economy Watch: Demand For Skilled Nursing Facilities Edges Up in Q1
The percentage of Medicare patients among the overall mix of patients is also increasing, according to the National Investment Center for Seniors Housing & Care, reflecting the growing important of Medicare within the skilled nursing sector.
Rent Growth
Rents were up 1.5% nationwide in May, down 40 basis points from April, 90 basis points from March and well below the 5.3% growth rate of a year ago. Deceleration is more than firmly established, as the year-over-year growth rate has decreased for 13 straight months since reaching 5.4% in April 2016. The last time the year-over-year increase was as low as 1.5% was in April 2011.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for May 2017 in New York City.
Economy Watch: Fed Sure of Economy, Raises Rates, Promises Asset Sell-Off
The Federal Reserve unanimously decided to raise rates for the second time in 2017, signaling its belief that the U.S. economy is strong enough to handle more expensive financing.
Economy Watch: Retail Sales Dip in May
By Dees StriblingU.S. retail and food service sales dropped 0.3 percent in May compared with April, the Census Bureau reported on Wednesday. That’s the weakest monthly report for retail sales in more than a year and a half. Compared with the same month last year, however, retail sales were still up by 3.8 percent.As usual, some retail categories fared better than others. A handful of categories experienced month-over-month sales gains in May, such as furniture, up 0.4 percent, and apparel, up 0.3 percent. Grocery stores, as well as health and personal care stores, both eked out 0.1 percent gains for…
Economy Watch: Closings Loom for Fashion Retailer
More than 250 stores will close by 2019 and another 400 closings could follow unless landlords grant rent relief, says the owner of such fashion brands as Ann Taylor, Dressbarn and Maurices.
Economy Watch: Washington State Has Healthiest Economy
A recent WalletHub report ranked the 50 states based on economic health, which affects commercial property growth. Washington state took the top spot, followed by California, Utah and Massachusetts.
Economy Watch: Americans Generally Optimistic About Economy
A new Pew Research Center report reveals that nearly six in 10 Americans believe the current economic situation is good, given that the U.S. economy has experienced 80 months of consistent job growth. However, the same participants weren’t as optimistic about future prospects.
Economy Watch: Rents Volatile in Many Markets in May
While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side.
Three Strikes: Multifamily Growth Slows for Third Consecutive Month
May 2017 marked the third consecutive month of rent growth deceleration and the 13th year-over-year slowdown, although development remains controlled.