Home sales up, hotel jobs down, a mixed view of the SFR market, wary shoppers still avoiding malls, and why landlords need to go 3D in their virtual showings.
In Today's News
Pending home sales rallied strongly in June with all four major regions showing growth from May to June, the National Association of Realtors (NAR) said. The trade group said its Pending Home Sales Index rose 16.6% in the month.
Why it matters: Residential home sales are one of the bellwether indicators of economic health and optimism in this country. On the other hand, the NAR says in this report that the market is being fueled by low rates and federally injected liquidity. Is that sustainable if foreclosures and unemployment surge again?
The American Hotel & Lodging Association says a survey of its members this week shows that only 37% have brought back at least half of their full-time employees and that 36% have not been able to bring back any full-time furloughed positions at all.
Why it matters: Lots of real estate investment dollars reside in hospitality properties that continue to suffer the effects of what were state-imposed shutdowns and now are in many cases self-imposed travel bans.
This Trepp report says there are two schools of thought about how hot the opportunities are now for investors in the single-family rental market and presents metrics and reasoning for each viewpoint.
Why it matters: For folks considering plunking some cash into some of the major players mentioned in this piece, this is must reading. (Millionacres has been paying attention to this rent-instead-of-own trend, too.)
About a third of American consumers say they feel unsafe or very unsafe visiting shopping malls, and a majority of women feel the same about trying out makeup products or trying on shoes or other clothing in dressing rooms.
Why it matters: This CNBC piece brings home again the travails facing America's malls and shopping centers as the pandemic presses on, taking down major retailers and prompting mall owners to consider buying their own tenants.
Today on Millionacres
Millionacres' Liz Brumer explains how three-dimensional showings can reach more tenants, reduce face-to-face encounters, and help generate interest and new tenants.
Why it matters: Investing time and money in new computer skills may not be top of mind for landlords right now, but the imperatives of social distancing have raised the ante, and being able to stand out it in the crowd is good for the long term, too.
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