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Is the Economic Recovery Still on Track? CRE Outlook Remains Strong in Q2

August 2, 2021 by Marcus & Millichap Research Services

CRE Outlook Remains Strong Despite GDP Growth Shortfall

U.S. Economic Recovery Underway, Varies by Sector

  • GDP grew by an annualized rate of 6.5% in 2Q, a bit below expectations but higher than pre-pandemic levels
  • In the first half of 2021, new job creation and core retail sales exceeded any other first half period
  • Air travel and consumer confidence near pre-pandemic levels; home sales elevated, but supply constrains linger

Economic Recovery Strengthening CRE Demand

  • Economic recovery driving demand for Apartments, Industrial, Retail, Hotels, Seniors Housing and Self-Storage
  • Office space demand still lagging, but absorption turned positive in 2Q; first time since the pandemic began
  • Strong growth taking investors off the sidelines, bolstering market liquidity and reviving transaction activity

Will the Real Estate Market Maintain its Momentum?

  • Rising debt availability for most asset types and expectations of low interest rates should sustain liquidity
  • New COVID-19 variants and possible tax changes could emerge as headwinds, but outlook remains sanguine

* Through 2Q
Sources: Marcus & Millichap Research Services, BEA

Watch the Video Below

Filed Under: Research Brief Tagged With: #2Q, #apartments, #GDP, #housing, #markets, #multifamily, #postpandemic, #recovery, #selfstorage, industrial, Retail

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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