THIRD QUARTER REAL ESTATE INVESTOR SUMMIT | Live Webcast: Thursday, September 24th 12:30 PM EDT

Reports

Research Brief: Employment – July 2020

Job growth increases as economic restoration continues. The labor market recovered further in June as unemployment fell 220 basis points to 11.1 percent and 4.8 million people returned to work, the largest monthly job gain on record. While the pace of rehabilitation is accelerating, total employment still lies 9.6 percent below its pre-pandemic level with 14.7 million fewer jobs in the market than in February 2020.

Research Brief: Retail Sales – July 2020

Reopening boosts consumption last month. Consumer spending posted impressive gains for a second consecutive month as states greenlighted a wider range of businesses to resume operations. Total retail sales advanced 7.5 percent last month, building on an 18.2 percent climb in May. The increase pushed year-over-year gains into positive territory, though sales sit well below pre-health crisis levels. In addition to greater access to both service-based and traditional retailers, the magnitude of stimulus pumped into… Read More

Research Brief: Employment – June 2020

Labor market rebounds as restrictions begin to ease. Employers added 2.5 million jobs in May to bring the unemployment rate down to 13.3 percent, indicating the worst of the economic fallout may be behind us. Economic shutdowns resulted in job losses of 22.1 million in March and April, pushing the unemployment rate to 14.7 percent, the highest since 1948. While the employment gains are very encouraging, uncertainties and a long road to recovery for America’s… Read More

Research Brief: Housing – April 2020

Apartment owners benefi t from retreating home sales. The sale of existing homes in March posted the largest month-over-month decline in more than four years, retreating 8.5 percent. Yet sales are up 0.8 percent on an annual basis as properties in escrow before the shelter-in-place restrictions move through the pipeline. Purchasing is expected to continue to slow into the spring buying season due to more complicated logistics, employment uncertainty and limited inventory. These factors benefi… Read More

Research Brief: IRS – April 2020

Section 1031 of the Internal Revenue Code enables real estate investors to defer capital gains on income-producing property when those gains are used to acquire a like-kind investment. Colloquially, a 1031 exchange is the transaction in which an investment property is liquidated and the proceeds from the sale, including capital gains, are used to acquire additional income-producing property or properties. For the exchange to meet IRS standards, buyers have 45 days from the initial sale… Read More

Research Brief: Retail Sales – April 2020

Implications of COVID-19 on retail emerge. Retail sales dropped a record 8.7 percent in March as much of the country shuttered all but essential retailers and social distancing guidelines stemmed traffic at others. Core retail sales, which exclude auto and gas, dipped 3.1 percent, highlighting the divided nature of the strain on retail. March’s figure offers a glimpse into the damage done to retailers by shutting down much of the consumer-based economy. However, April has… Read More

Research Brief: Employment – April 2020

Global health crisis causes shock to labor market. Restrictions on personal mobility due to the spread of COVID-19 have forced many businesses to temporarily close, contributing to 701,000 lost jobs in March. These same events forced consumers to shift spending more toward online storefronts and necessity retailers. Facing more demand, companies in these industries are hiring, which will help offset contractions in other sectors. Recently enacted fiscal stimulus will provide further aid.

Research Brief: Unemployment – March 2020

Coronavirus pandemic brings job creation to a halt. A record 3.28 million workers filed for jobless benefits in the week ending March 21 as the impact of COVID-19 hit the U.S. economy, putting an end to the nation’s historic run of employment gains. Applications for unemployment insurance last week surged to nearly five times the previous record as millions of companies have issued layoffs or furloughs. Many service businesses like hotels, restaurants, barber shops, gyms… Read More

Research Brief: Employment – March 2020

Employment growth remains strong. Employers added 273,000 positions in February, the strongest pace of job creation since May 2018. Figures from December and January were also revised up by a combined 85,000 jobs, producing an average monthly gain of 243,300 roles over the past three months. Hiring averaged 177,800 personnel per month last year. February’s robust recruiting metrics were sufficient to keep the unemployment rate unchanged at 3.5 percent, a 49-year low. Joblessness has remained below… Read More

Research Brief: Employment – February 2020

Better-than-expected job additions do not sway forecasts. Employers added 225,000 positions to payrolls in the first month of 2020, starting the year off on a strong foot after an average of 176,000 roles were created per month in 2019. Investors should not assume, however, that January’s more positive figures will herald accelerated growth in 2020. Both 2018 and 2019 began with elevated job creation, only for the pace of employment growth to moderate as time… Read More