Global real estate consultant CBRE is reporting this week continued rollout of COVID-19 vaccinations and additional stimulus funds in the U.S. have strengthened the foundation for the recovery of the U.S. lodging industry.
According to CBRE, distribution firms want to be close to major air hubs to expedite speedy deliveries, but there is often a price to pay: Industrial rent premiums average 13 percent in the top U.S. airport submarkets and reach as high as 47% in the Chicago O'Hare submarket.
Industry sales grew 2% from Q3 2020 and 4% year-over-year from Q4 2019. Retail sales are experiencing especially impressive growth, with average sales up 7.9% from last year, followed by manufacturing (5.5%), building/construction (3.8%) and design (2.4%).
According to the National Association of Realtors, pending home sales in the U.S. took a step backward in January 2021 as inventory constraints continue to hold back prospective buyers.
The total number of loans now in forbearance decreased by 7 basis points from 5.29% of servicers' portfolio volume in the prior week to 5.22% as of February 14, 2021.
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