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Palomar Press Briefing | October 6, 2021

 



 INDUSTRY NEWS

October 6, 2021

 

 

BUSINESS CONDITIONS ARE WORSE NOW THAN THREE MONTHS AGO, SAYS NATIONAL RESTAURANT ASSOCIATION

The majority of full-service and limited-service restaurant operators say that business conditions are worse now than they were three months ago, according to a new survey conducted by the National Restaurant Association. The study found that 44 percent of operators think it will take more than a year before business conditions return to normal.

MOST REIT SECTORS MOVED LOWER LAST WEEK

REIT stocks declined in the week ended Oct. 1, with a total return of -1.6% on the FTSE Nareit All Equity REITs Index. Broader markets also fell, with a decline of 2.2% on both the Russell 1000 and the S&P 500. Most REIT property sectors were in the red. Infrastructure REITs had a total return of -4.7% while data center REITs were down 4.5%.

HOUSING ASKING PRICES HIT ALL-TIME HIGH WHILE INVENTORY SURGES

New housing data released show inventory hit a 2021 high in September, giving buyers more choices than they have had all year, according to the Realtor.com Monthly Housing Report. Nearly one-third of the 50 largest metros continued to see increases in newly-listed homes compared to last year.

NAREIT REPORTS Q3 2021 REIT PERFORMANCE

Nareit has released its Q3 REIT Performance Report showing that REITs continued to make gains. Some key findings include: In the third quarter of 2021, the FTSE Nareit All Equity REIT Index continued to generate positive returns, rising 0.23% in Q3 after a 12.03% increase in Q2.

HOW TO MAKE SENSE OF WHERE CAP RATES ARE HEADED

Here’s the key: ask yourself what factors will drive every market participant’s perception of risk. The big takeaway from last week’s meeting of the Federal Reserve appears to be that interest rates will rise next year – and that has many CRE professionals asking if cap rates will also go up.

WHAT TO EXPECT IN THE 2022 HOUSING MARKET

For any homebuyer, novice or weathered, the 2021 housing market has been harrowing to navigate. By some experts’ definitions, “this year, [the housing market] decidedly shot way ahead of the economy, to the point where we saw this incredibly overheated market characterized by massive multiple offers, contingency waivers, price escalation clauses, and, in fact, record prices.”

 

 

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