Economy Watch: Fitch Report Optimistic About CRE
In its first annual U.S. Equity REITs Handbook, Fitch expects continued positive property-level fundamentals across most asset classes in 2017. Multifamily should again lead the REIT sector, although same-store net operating income growth will be less than 2016 levels, according to the report.
Economy Watch: Construction Spending Takes a Dip in April
Both private and public construction spending declined for the month, according to the Census Bureau, including in the residential category.
Economy Watch: Job Growth Tepid in May
The U.S. economy saw below-average job growth for the month, adding only 138,000 jobs, the Bureau of Labor Statistics reported. However, segments of the economy that affect commercial space absorption still had reasonably good job creation.
Charlotte’s Boom
The metro’s multifamily market is one of the best-performing in the country, with healthy demand, job increases and strong growth potential.
Portland’s Charm
The city’s multifamily demand remains elevated, fueled by a healthy job market and an influx of young people for professional and lifestyle purposes.
Economy Watch: Americans Earn More, Spend More in April
The month’s increase in personal income was mainly because of a boost in private wages and salaries, the BEA reported. This bodes well for the wider economy, since wages have lagged productivity for so long.
Nashville’s Supply Side Shines
The area’s multifamily fundamentals continue to be solid on most levels. With strong demand fueled by robust population gains and consistent job growth, the market remains a hot ticket for investors.
Economy Watch: AIA Predicts More Construction Starts in 2018
The Architecture Billings Index has posted three consecutive months of design revenue growth, according to the AIA, which bodes well for construction spending growth next year.
Knoxville Gives It the Old College Try
The metro’s economy has benefited from gains in a number of sectors, pushing investment sales to a new cycle high.
The Inland Empire Expands
Rent growth in San Bernardino and Riverside counties continued its extremely fast pace over the past year, supported by a healthy job market and moderate inventory expansion.