The FTSE Nareit Equity Apartments index, which tracks landlords, is up 42% since January, trouncing the S&P 500’s 17% gain. Median rent has risen more than 10% over the past year.
Foreigners purchased $54.4 million of U.S. residential real estate in the year ended in March, which is down 27 percent, the lowest level on record since NAR began collecting the data in 2011.
Just $3 billion of the $47 billion of aid authorized by Congress in December and March had been delivered to landlords and tenants as of June 30. About 8.2 million adults were behind on their rent or mortgage as of July 5 and have low confidence they can pay on time next month.
$144.7 billion worth of commercial property sold in the second quarter of 2021, more than the average for that quarter for years 2015 to 2019. Most popular with buyers are multifamily buildings and properties in Sun Belt cities.
While extended stay hotel occupancy dipped in January 2021 amid a second wave of COVID-19 and a slow start to the U.S. vaccination rollout, the segment maintained its occupancy premium over other types of hotels, averaging occupancy 20 points higher than non-extended stay hotels.
CBRE will buy a 60% stake in Turner & Townsend for $1.3 Billion. The deal between world’s largest commercial real estate services firm and London-based project manager targets alternative energy efforts.
Fifty-four U.S. hotel markets (33%) entered the “recovery” category, up from 30% the prior week, but 20 markets remained in the “recession” category, with RevPAR between 50% and 80% of 2019 levels.
The vast majority of the 1.55 million homeowners who are seriously delinquent—meaning they haven’t made mortgage payments in at least 90 days—are in active forbearance. That represents about 2.9% of the 53 million active mortgages, down from a high of about 4.4% in August and September 2020.
The pandemic triggered a two-month recession last year that began in February 2020 and ended in April, making it the shortest on record.
