Dees Stribling
Economy Watch: More Americans Traveling for July 4 Than Ever
The hospitality sector and, to a lesser extent, the retail sector are set to benefit from record 44.2 million Americans expected to travel during the 2017 Independence Day holiday period, according to an AAA forecast.
Economy Watch: Food & Beverage Sales May Help Ailing Shopping Centers
Restaurants and other eateries account for more than 20 percent of units in new and redeveloped shopping centers in mature markets, according to a recent Cushman & Wakefield report. This trend will likely continue as consumer spending on eating out is expected to grow over the next decade.
Economy Watch: U.S. GDP Edges Up in Q1
A 1.4 percent increase in U.S. real GDP for the first quarter of the year was down from the growth seen in the fourth quarter of 2016, according to the Bureau of Economic Analysis. But consumers remain confident about the state of the U.S. economy.
Economy Watch: Office Occupancy Rising Fast in Some U.S. Markets
Several major U.S. cities made CBRE’s top 20 list of the markets with the fastest-increasing office occupancy costs worldwide, including Houston, Midtown-South Manhattan, Denver, Chicago, among others.
Construction Industry Backlog Up
The amount of construction work under contract but not yet completed rose to nine months, according to the Associated Builders and Contractors latest Construction Backlog Indicator, implying expanding demand for construction services, or a shortage of construction labor in a few markets.
Economy Watch: U.S. Population Still Graying
The median age of the U.S. population rose from 35.3 years in April 2000 to 37.9 years in July 2016, according to new Census Bureau population estimates. A shift that will affect demand for retail and residential real estate.
Economy Watch: E-Commerce Sales Impacting Certain Retail Sectors
While internet sales have been steadily increasing each year and each month, they are only generating significant volume in sectors like apparel and electronics, according to a new CBRE report. E-commerce has yet to gain as much traction in other retail areas.
Economy Watch: Architects Report a Good Month in May
The American Institute of Architects’ Architecture Billings Index posted its fourth consecutive month of growth, suggesting that both the architecture and construction sectors will remain healthy for the foreseeable future.
Economy Watch: China Named Top Buyer, Seller of US CRE
One-fifth of realtors that participated in the National Association of Realtors latest survey on foreign investment in U.S. commercial real estate said they had closed a sale with an international client in 2016. They also expect increased sales and leasing activity involving foreign investors this year.
Economy Watch: Demand For Skilled Nursing Facilities Edges Up in Q1
The percentage of Medicare patients among the overall mix of patients is also increasing, according to the National Investment Center for Seniors Housing & Care, reflecting the growing important of Medicare within the skilled nursing sector.