COMMERCIAL. first look
|
|
- Beverly Mitchell Stevens
- 5 years ago
- Views:
Transcription
1 CCRSI RELEASE AUGUST 213 (With data through June 213) COMMERCIAL REAL ESTATE PRICES SEE MIDYEAR SURGE WITH STRONGEST QUARTER RLY INCREASE SINCE 211 RECOVERY BROADENS AS GENERAL COMMERCIAL SEGMENT EDGES OUT INVESTMENT GRADE PROPERTIES; SECONDAR RY MARKETS OUTPERFORM PRIMARY MARKETS; AND RETAIL AND OFFICE PRICING OUTPACES MULTIFAMILY IN SECOND QUARTER This month's CoStar Commercial Repeat Sale Indices (CCRSI) provide the market's first look at June 213 commercial real estate pricing. Based on 1,189 repeat sales in June 213 and more than, repeat saless since 1996, the CCRSI offers the broadest measure of commercial real estate repeatt sales activity. COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
2 June 213 CCRSI National Results Highlights COMMERCIAL REAL ESTATE PRICES SURGE IN SECOND QUARTER 213: On the strength of improving market fundamentals, the two broadest measures of aggregate pricing for commercial properties within the CCRSI the value-weighted U.S. Composite Index and the equal-weighted U.S. Composite Index continued their upward trend in June. The value-weighted index, which is influenced by larger transactions and generally tracks with high quality core real estate properties, gained 5.9% in the second quarter, its best quarterly showing since 211. Meanwhile, the equalweighted index, which is comprised of smaller, more numerous transactions representative of the lower end of the market, jumped by an impressive 9.1% in the second quarter, its strongest quarterly gain on record. GENERAL COMMERCIAL SEGMENT GROWTH ACCELERATES IN JUNE: Within the equalweighted U.S. Composite Index, the Investment Grade segment, which broadly encompasses upper-middle tier properties, continued moving steadily upwards, increasing 7.9% above last quarter. Pricing in the General Commercial segment has taken longer to recover, but has recently gained momentum as investment activity continued to extend into secondary markets and property types. Pricing in the General Commercial segment advanced a stellar 9.2% from the previous quarter and increased 11.7% over the last 12-month period. RETAIL TURNS IN STRONGEST PERFORMANCE OF MAJOR PROPERTY TYPES: Stronger consumer spending and a near dearth in new construction helped to bolster pricing gains for retail properties as reflected in the 16% gain in the CCRSI Retail Index over the past 12-month period ending in the second quarter, the strongest performance of the four major property types. Meanwhile, pricing in the Office Index advanced by 11.4%, while the Multifamily Index gained a more modest 11.1% year over year. Among CCRSI s regional indices, the Midwest regional index recorded the largest regional gain of 16.5% for the previous 12-month period ending in the second quarter, aided by outsized growth in multifamily and retail pricing levels, while the Northeast regional index continued to track the largest cumulative pricing gains since the recovery began. DISTRESS SALES CONTINUE TO ABATE: The percentage of commercial property selling at distressed prices dropped to just 13.6% in June 213, down from nearly 24% one year earlier, the lowest level of distress recorded since the end of 28. The long-term average for distress trading is less than 1% of total volume, so the recovery still has a ways to go, but the recent declines have helped to boost liquidity and pricing by giving lenders more confidence to do deals. Monthly CCRSI Results, Data through June of Month Earlier 1 Quarter Earlier 1 Year Earlier Trough to Current Value Weighted U.S. Composite Index 2.5% 5.9% 11.8% 47.3% 1 Equal Weighted U.S. Composite Index 3.% 9.1% 12.8% 15.7% 2 U.S. Investment Grade Index 1.5% 7.9% 17.8% 27.5% 3 U.S. General Commercial Index 3.1% 9.2% 11.7% 14.2% 4 1 Trough Date: January, 21 2 Trough Date: March, Trough Date: October, 29 4 Trough Date: March, 211 COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
3 Quarterly CCRSI Property Type Results The leap in commercial real estate pricing in the second quarter was seen across all four major property types. Double-digit annual gains in nearly every property sector demonstrate the depth of the recovery in commercial real estate prices. Pricing in the overall market has increased more rapidly than in the primary markets for all the major property sectors save industrial, suggesting that investors are either being priced out of primary markets or have more appetite for risk as market fundamentals improve. The multifamily sector, which has led the recovery in commercial real estate pricing, continued to post strong results. Overall pricing at the end of the second quarter of 213 was just 13.4% shy of the previous peak reached in 27. By comparison, pricing in the other major property types is still more than 2% below previous peak levels. While the multifamily sector s outperformance has been attributable to relatively stronger fundamentals, it has also been a function of plentiful debt financing, led by the government-sponsored enterprises (GSEs), following the downturn. However, there are signs of a deceleration in multifamily fundamentals, mainly as a result of growing new supply, especially in the primary markets where vacancies are at, or near, prerecession lows and pricing has already surpassed its prior peak level. The CCRSI Multifamily Prime Metros Index notched gains of 9.9% over the last year, which was lower than the 11.1% gain for the broader multifamily index. Reflecting the continued decrease in vacancy rates across most markets, the CCRSI Retail Index posted the most impressive pricing gains during the second quarter of 213 of 1.2%. Pricing in the Retail Index is now up 16% over the previous 12-month period, the first double-digit annual price increase in the Retail Index since its recovery began in 211. The overall retail market outperformed the Prime Retail Metros Index over the past year indicating that investors appear to be branching out beyond core assets in the primary markets and malls, as has been the case in previous quarters. The retail sector s recent pricing rebound is encouraging because it suggests that the housing recovery may finally be spilling over to the broader economy. Pricing in the Office Index advanced by 11.4% for the previous 12-months ending in the second quarter, the second strongest annual performance among the major property segments behind the retail sector. Steady demand for office space during this time, coupled with historically low levels of new construction, has led to the sturdy pricing gains. Investors also appear to be looking beyond the core technology and energy-driven markets for deals as indicated by the slower growth in the Prime Office Metros Index over the last year. The gap in pricing between secondary and top tier markets is exceptionally wide right now, indicating that secondary markets will likely continue to see a rise in pricing over the near term. A strong demand forecast, further expected vacancy compression, and relatively cheap pricing are drawing investors to markets like Portland, Charlotte and Phoenix, where pricing is rising more rapidly than in the core markets of New York and Washington DC, where pricing has already surpassed prior peak levels. While the pricing recovery in the industrial property sector began later than in the other major property types, the CCRSI Industrial Index advanced by a solid 9.5% year-over-year in the second quarter. Big-box distribution facilities located in primary logistics hubs have led industrial the recovery, which is reflected in the stronger 22% gain in the Prime Industrial Metros Index over the last year. COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
4 The CCRSI Land Index notched modest price gains over the past four quarters on the strength of continued demand for multifamily development sites and the recovering single-family market. The Land Index gained 1.8% in the second quarter of 213 accumulating 5.1% price gains over the previous 12-month period. The CCRSI Hospitality Index also made promising gains over the last year increasing by 6.1% from the same quarter of the last year. Hotel demand closely correlates with macro economy. With slow but steady economic growth, average room rates are on the rise in most markets. As a result, hotels are becoming a more desirable asset class among investors. Quarterly CCRSI Regional Results All four major regional indices in the CCRSI posted positive quarterly and year-over-year pricing gains. The Northeast Composite Index, which has been bolstered by exceptional pricing growth in a handful of prime multifamily and office markets, remained at the forefront of the recovery. Accordingly, the Northeast Index has climbed to within 7% of its prior peak level in 27, while pricing in the other regions remains nearly a third below their respective previous high water marks. Among specific property types, the Northeast Multifamily Index has made an early and impressive recovery, already surpassing its prior peak pricing. However, as supply levels begin to mount in many markets investors are turning their attention to other property types in the region. The Northeast Office Index advance by 24.8% over the last year, driven by strong pricing gains in the core markets of New York and Boston, and also among secondary markets such as Pittsburgh. Pricing is finally gaining some traction in the Midwest. This region has been the laggard in the recovery, with pricing finally bottoming out in the second quarter of last year, at least a year behind the other regions. Since then, a solid recovery in the multifamily and retail segments has helped the overall Midwest regional index to advance by 16.5% over the last year. Thanks to higher yields and continued investor preference for multifamily assets, the Midwest Multifamily Index advanced by an impressive 34% over the last year, led by gains in solidly performing markets such as Chicago, Minneapolis, Cincinnati and Columbus. As was the case in the Midwest, the multifamily and retail sectors are driving recent pricing gains in the South Regional Composite Index. Markets that had not seen the first wave of investment capital, including Tampa, Orlando and South Florida, have seen stronger pricing gains over the last year, helping the overall South Composite Index to advance by 14.2%. Pricing in the West region advanced just 3.9% year-over-year compared with a 9% gain in the previous 12-month period. The West Multifamily index led overall pricing gains over the last few years as investors flocked to supply constrained core markets like San Francisco, San Jose and Los Angeles, aggressively bidding up prices. However, as capital is now moving to secondary markets and property types in search of higher yields, pricing in the West Multifamily Index has flattened over the last year, dragging down the total for the region. The West Retail and Office indices advanced by a stronger 6% during the same period. COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
5 U.S. Composite Indices: Equal and Value Weighted, Data through June of 213 Index Value (2 Dec = 1) U.S. Composite Value Weighted U.S. Composite Equal Weighted U.S. Composite Indices by Market Segment: Equal Weighted, Data through June of U.S. Investment Grade U.S. General Commercial Index Value (2 Dec = 1) COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
6 U.S. Pair Count, Data through June of 213 U.S. Pair Volume, Data through June of 213 2,5 U.S. General Commercial Pair Count U.S. Investment Grade Pair Count $12 U.S. General Commercial Pair Volume U.S. Investment Grade Pair Volume 2, $1 Number of Sale Pairs 1,5 1, 5 Billions of Dollars $8 $6 $4 $ $ U.S. Distress Sale Pairs Percentage, Data through June of 213 U.S. Investment Grade Distress Pair % U.S. General Commercial Distress Pair % Distressed Sale Pairs as Percentage of Total 4% 35% 3% % 2% 15% 1% 5% % Jan 8 Apr 8 Jul 8 Oct 8 Jan 9 Apr 9 Jul 9 Oct 9 Jan 1 Apr 1 Jul 1 Oct 1 Jan 11 Apr 11 Jul 11 Oct 11 Jan 12 Apr 12 Jul 12 Oct 12 Jan 13 Apr 13 COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
7 U.S. Primary Property Type Quarterly Indices - Equal Weighted, Data through June of U.S. Office U.S. Industrial U.S. Retail U.S. Multifamily 2 Index Value (2 Dec = 1) U.S. Land and Hospitality Quarterly Indices - Equal Weighted, Data through June of U.S. Land U.S. Hospitality Index Value (2 Dec = 1) COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
8 U.S. Regional Type Quarterly Indices - Equal Weighted, Data through June of 213 Midwest Composite Northeast Composite South Composite West Composite 2 2 Index Value (2 Dec = 1) U.S. Midwest Property Type Quarterly Indices U.S. Northeast Property Type Quarterly Indices - Equal Weighted, Data through June of 213 Equal Weighted, Data through June of 213 Index Value (2 Dec = 1) Midwest Office Midwest Retail Midwest Industrial Midwest Multifamily Index Value (2 Dec = 1) Northeast Office Northeast Retail Northeast Industrial Northeast Multifamily COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
9 U.S. South Property Type Quarterly Indices U.S. West Property Type Quarterly Indices - Equal Weighted, Data through June of 213 Equal Weighted, Data through June of 213 South Office South Industrial West Office West Industrial South Retail South Multifamily West Retail West Multifamily Index Value (2 Dec = 1) Index Value (2 Dec = 1) Prime Office Markets Quarterly Indices Prime Industrial Markets Quarterly Indices - Equal Weighted, Data through June of 213 Equal Weighted, Data through June of Prime Office Metros U.S. Office 2 Prime Industrial Metros U.S. Industrial 2 2 Index Value (2 Dec = 1) Index Value (2 Dec = 1) COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
10 Prime Retail Markets Quarterly Indices Prime Multifamily Markets Quarterly Indices - Equal Weighted, Data through June of 213 Equal Weighted, Data through June of 213 Index Value (2 Dec = 1) Prime Retail Metros U.S. Retail Index Value (2 Dec = 1) Prime Multifamily Metros U.S. Multifamily COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
11 About the CoStar Commercial Repeat-Sale Indices The CoStar Commercial Repeat-Sale Indices (CCRSI) are the most comprehensive and accurate measures of commercial real estate prices in the United States. In addition to the national Composite Index (presented in both equal-weighted and value-weighted versions), national Investment Grade Index and national General Commercial Index, which we report monthly, we report quarterly on 3 sub-indices in the CoStar index family. The sub-indices include breakdowns by property sector (office, industrial, retail, multifamily, hospitality and land), by region of the country (Northeast, South, Midwest, West), by transaction size and quality (general commercial, investment grade), and by market size (composite index of the prime market areas in the country). The CoStar indices are constructed using a repeat sales methodology, widely considered the most accurate measure of price changes for real estate. This methodology measures the movement in the prices of commercial properties by collecting data on actual transaction prices. When a property is sold more than one time, a sales pair is created. The prices from the first and second sales are then used to calculate price movement for the property. The aggregated price changes from all of the sales pairs are used to create a price index. National Composite CRE Price Index All Properties General Commercial Investment Grade National Indices by Property Type Office Retail Industrial Multifamily Regional Indices Northeast Midwest South West Regional Indices by Property Type Northeast: Office, Multifamily, Industrial, Retail Midwest: Office, Multifamily, Industrial, Retail South: Office, Multifamily, Industrial, Retail West: Office, Multifamily, Industrial, Retail Prime Market Indices by Property Type Office Multifamily Industrial Retail Hospitality Land COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
12 Prime Office Markets CBSA Listed Alphabetically Boston Los Angeles New York Orange County San Francisco Seattle Washington DC Prime Retail Markets CBSA Listed Alphabetically Boston Los Angeles New York Orange County San Diego San Francisco San Jose Washington DC Prime Industrial Markets CBSA Listed Alphabetically Atlanta Chicago Dallas Houston Los Angeles Northern New Jersey Riverside Seattle Prime Multifamily Markets CBSA Listed Alphabetically Boston Chicago Houston Los Angeles New York Orange County San Francisco San Jose Seattle Washington DC CONTACT: For more information about CCRSI Indices, including our legal notices and disclaimer, please visit ABOUT COSTAR GROUP, INC. CoStar Group (NASDAQ: CSGP) is the primary provider of websites for commercial real estate information, analytics and marketing services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 7 million registered members. CoStar operates websites that have over 9 million unique monthly visitors in aggregate. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe with a staff of approximately 2, worldwide, including the industry's largest professional research organization. For more information, visit COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
13 This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that the trends represented or implied by the indices will not continue or produce the results suggested by such trends, including the risk that transaction volume does not create, or continue to create, a favorable environment for commercial real estate transaction activity; the risk that investor demand and commercial real estate pricing levels will not continue at the levels or with the trends indicated in this release; the risk that the decline in distressed trades will not continue to support higher, more consistent pricing and enhanced market liquidity; the risk the retail sector s recent pricing rebound will not spill over to the broader economy; the risk that the gap in pricing between secondary and top tier markets will not remain high, and that secondary markets will not see a rise in pricing over the near term; and the possibility that the hospitality industry cannot continue to support rising hotel room prices and, therefore, that hotels will not become, or continue to be, a more desirable asset class. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Annual Report on Form 1-K for the year ended December 31, 212, and CoStar's Quarterly Report on Form 1-Q for the quarter ended June 3, 213, under the heading "Risk Factors" in each of these filings. All forwardlooking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise. COSTAR COMMERCIAL REPEAT-SALE INDICES August 213 Release (With Data through June 213)
COMMERCIAL REAL ESTATE PRICING LEAPS FORWARD IN AUGUST BOOSTED BY STRONG NET ABSORPTION IN FIRST HALF OF YEAR
CCRSI RELEASE OCTOBER 2012 (With data through AUGUST 2012) COMMERCIAL REAL ESTATE PRICING LEAPS FORWARD IN AUGUST BOOSTED BY STRONG NET ABSORPTION IN FIRST HALF OF YEAR CCRSI INDICES POST STRONGEST GAINS
More informationSTRONG MARKET FUNDAMENTALS SUPPORT BROAD PRICE GAINS IN MAY
CCRSI RELEASE JULY 2014 (With data through MAY 2014) STRONG MARKET FUNDAMENTALS SUPPORT BROAD PRICE GAINS IN MAY VALUE-WEIGHTED U.S. COMPOSITE PRICE INDEX APPROACHES PRERECESSION PEAK LEVELS This month's
More informationCOMMERCIAL REAL ESTATE PRICE RECOVERY ACCELERATES IN MAY
CCRSI RELEASE JULY 2013 (With data through May 2013) COMMERCIAL REAL ESTATE PRICE RECOVERY ACCELERATES IN MAY STRONG ABSORPTION ACROSS ALLL SIZE AND QUALITY DIMENSIONS OF REAL ESTATEE SECTOR REFLECTED
More informationCCRSI RELEASE APRIL 2014 (With data through FEBRUARY 2014)
CCRSI RELEASE APRIL 2014 (With data through FEBRUARY 2014) PRICE MOMENTUM FOR COMMERCIAL REAL ESTATE CONTINUED TO BUILD IN FEBRUARY REFLECTING BROAD RECOVERY IN MARKET FUNDAMENTALS AND PRICING, EQUAL-WEIGHTED
More informationCOMPOSITE PRICE INDICES FOR COMMERCIAL REAL ESTATE SOARED IN 2015
CCRSI RELEASE JANUARY 216 (With data through December 215) COMPOSITE PRICE INDICES FOR COMMERCIAL REAL ESTATE SOARED IN 215 DOUBLE-DIGIT PRICE GROWTH ACROSS ALL REGIONAL AND PROPERTY-TYPE INDICES IN 215
More informationCCRSI RELEASE JANUARY 2014 (With data through NOVEMBER 2013)
CCRSI RELEASE JANUARY 2014 (With data through NOVEMBER 2013) COMMERCIAL REAL ESTATE PRICES POST STEADY GAINS IN NOVEMBER STRONG ABSORPTION ACROSS PROPERTY TYPES SUPPORT BROAD GAINS IN PRICING This month's
More informationCOMMERCIAL PRICING SURGE
CCRSI RELEASE MARCH 2013 (With data through JANUARY 2013) COMMERCIAL REAL ESTATE PRICING LEVELS OFF FOLLOWING YEAR-END SURGE IN JANUARY INCREASING LIQUIDITY AND DECLINING DISTRESSED IMPROVING INVESTOR
More informationCCRSI RELEASE OCTOBER 2014 (With data through August 2014)
CCRSI RELEASE OCTOBER 2014 (With data through August 2014) COMMERCIAL PROPERTY PRICES SUSTAIN UPWARD CLIMB IN AUGUST IMPROVING LABOR MARKET CONDITIONS FUEL STRONG THIRD QUARTER NET ABSORPTION AND PRICE
More informationCOMMERCIAL PROPERTY PRICES SHOW LITTLE MOVEMENT IN OCTOBER AMID ECONOMIC UNCERTAINTY
CCRSI RELEASE DECEMBER 2012 (With data through October 2012) COMMERCIAL PROPERTY PRICES SHOW LITTLE MOVEMENT IN OCTOBER AMID ECONOMIC UNCERTAINTY ADVANCES IN INVESTMENT GRADE INDEX FUELED BY SEASONAL SURGE
More informationCOMMERCIAL REAL ESTATE PRICES MIXED: GENERAL COMMERCIAL SECTOR GAINS MOMENTUM WHILE INVESTMENT GRADE SEES SEASONAL DIP
APRIL 2012 CCRSI RELEASE (With data through February 2012) COMMERCIAL REAL ESTATE PRICES MIXED: GENERAL COMMERCIAL SECTOR GAINS MOMENTUM WHILE INVESTMENT GRADE SEES SEASONAL DIP SLOW BUT STABLE PRICING
More informationCOMMERCIAL REAL ESTATE PRICES INCREASE A MODEST 1.1% IN FOURTH QUARTER AS PROPERTY PRICING LEVELS OFF IN DECEMBER
FEBRUARY 2012 CCRSI RELEASE (With data through December 2011) COMMERCIAL REAL ESTATE PRICES INCREASE A MODEST 1.1% IN FOURTH QUARTER AS PROPERTY PRICING LEVELS OFF IN DECEMBER MULTIFAMILY LED ALL PROPERTY
More informationMetropolitan Area Statistics (4Q 2012)
Metropolitan Area Statistics (4Q 2012) Apartment Completions 4Q 2011 4Q 2012 % Chg. Atlanta 490 288-41% Boston 678 995 47% Chicago 506 711 41% Cleveland 4 13 225% Columbus 255 322 26% Dallas-Ft. Worth
More informationCBRE CAP RATE SURVEY. A CBRE Publication. First Half Click to Enter
CBRE CAP RATE SURVEY A CBRE Publication In This Issue: pg 2 pg 8 pg 17 pg 26 pg 36 pg 41 pg 44 Click to Enter United States The 10-year Treasury (UST) was measurably lower than 2% from April 2012 through
More informationState Of The U.S. Industrial Market: 2017 Q2
State Of The U.S. Industrial Market: 2017 Q2 Copyright 2017 CoStar Realty Information, Inc. No reproduction or distribution without permission. The following information includes projections and analyses
More informationState of the U.S. Multifamily Market. Q Review and Forecast
State of the U.S. Multifamily Market Q1 2015 Review and Forecast Agenda Economy Leasing Fundamentals Rent and NOI Trends Single-Family Market Capital Markets Economy page 3 GDP Growth Contributions To
More informationU.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE
AEW RESEARCH U.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE Q2 2018 AEW RESEARCH U.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE Q 2 2018 1 Prepared by AEW Research, June 2018 This material is intended for information
More informationWas it all for N 0 u g h t? The 00 Decade and the Year Ahead. Tony Pierson Cornerstone Real Estate Advisers LLC. Real Estate Conference
Disclaimer This presentation is not intended to be and does not constitute investment advice. This is provided as an accommodation and shall not be relied upon as investment advice. This presentation includes
More informationZipRealty, Inc. Supplemental Data Reclassification of Consolidated Statement of Operations
Reclassification of Consolidated Statement of Operations Effective January 1, 2007, for income statement presentation purposes, we have reclassified sales support and marketing expenses from general and
More informationFisher Center-Real Estate & Economics Symposium. November 19 th, 2018
Fisher Center-Real Estate & Economics Symposium November 19 th, 2018 SALES VOLUME AND PRIMARY MARKET CAP RATES 12-MONTHTOTALS Demand for product in major markets has driven cap rate compression, and forced
More information2019 Outlook. January
2019 Outlook January 2019 0 Performance in the multifamily market remained healthy during 2018 and is expected to continue into 2019, but with more modest growth in comparison to recent years. The multifamily
More informationEconometric Advisors APARTMENT OVERVIEW AND OUTLOOK Q4 2017
Econometric Advisors APARTMENT OVERVIEW AND OUTLOOK Q4 2017 THE U.S. ECONOMY WILL REMAIN ON FIRM FOOTING IN 2018 JOB GROWTH WILL MODERATE AS LABOR MARKET TIGHTENS FURTHER STRONG CONSUMPTION, HIGHER PRIVATE
More informationPRESS RELEASE. Home Prices Continue Climbing in June 2013 According to the S&P/Case-Shiller Home Price Indices
Home Prices Continue Climbing in June 2013 According to the S&P/Case-Shiller Home Price Indices New York, August 27, 2013 Data through June 2013, released today by for its S&P/Case-Shiller 1 Home Price
More informationOffice of the Chief Economist National Credit Union Administration. Economic Overview. California State Examiner School.
Office of the Chief Economist National Credit Union Administration California State Examiner School May 30, 2017 Credit Union Performance Trends Recent Data About Credit Union Performance in California,
More informationAPARTMENT TRENDS. U.S. Economic and Multi-Family Outlook. Special Client Webcast May 31, 2006
APARTMENT TRENDS U.S. Economic and Multi-Family Outlook Special Client Webcast May 31, 2006 U.S. Apartment Market Economic and Apartment Supply-Demand Overview and Outlook U.S. Economic Conditions Ideal
More informationCommercial Real Estate Outlook June Must Own Property Names to Buy During Interest Rate Fears
Jonathan Litt Founder & CEO Must Own Property Names to Buy During Interest Rate Fears REITs have sold off 9.5% since their peak in mid-may on fears of rising interest rates. Historically, sell-offs related
More informationMetro Washington, DC State of the Market
Metro Washington, DC State of the Market Q1 2016 U.S. office clock San Francisco Peninsula Silicon Valley Houston Dallas, San Francisco Austin Nashville Peaking phase Falling phase Denver, Minneapolis,
More informationStruggling to Escape the Fallout of the Great Recession MARISA Di NATALE, MANAGING DIRECTOR
Struggling to Escape the Fallout of the Great Recession MARISA Di NATALE, MANAGING DIRECTOR FROM MOODY S ECONOMY.COM Broad-Based Slowing Across the Nation Total employment excluding federal government,
More informationCYCLE FORECAST Real Estate Market Cycles Third Quarter 2017 Estimates November 2016
CYCLE FORECAST Real Estate Market Cycles Third Quarter 0 Estimates November 0 It is expected that 0 should have a growth trajectory higher than the past six years. Economists revised their forecasts to
More informationOffice-Using Jobs and Net Migration Point to Continued Strength
October 20, 2017 Office-Using Jobs and Net Migration Point to Continued Strength Key Takeaways Secondary Sunbelt office markets are priced to offer attractive, risk-adjusted returns relative to the Gateway²
More informationMultifamily Outlook. United States Fall 2014
Multifamily Outlook United States Fall 2014 Markets continue to perform at peak levels... with nearterm, pocketed softening on the horizon On the heels of seven quarters of peak-level investment sale volumes,
More informationU.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE
AEW RESEARCH U.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE Q3 2018 1 Prepared by AEW Research, September 2018 This material is intended for information purposes only and does not constitute investment advice
More informationThe Five Retail Trends to Watch in January 14, 2015
The Five Retail Trends to Watch in 2015 January 14, 2015 U.S. ECONOMIC TRENDS Inflation Adjusted Crude Oil Prices Fall Below Long-Term Average Price per Barrel (Nov. 2014 Dollars) $160 $120 $80 $40 $0
More informationStrong Investor Demand but Policy Concerns Persist. The Nature of Health Insurance is Shifting.
U.S. Research Report 18 HEALTHCARE MARKETPLACE Strong Investor Demand but Policy Concerns Persist. The Nature of Health Insurance is Shifting. Overview The U.S. healthcare real estate sector remains on
More informationU.S. Market Overview
GENERAL ECONOMIC OVERVIEW The U.S. is increasingly one of the few bright spots of the global economy. Preliminary estimates of thirdquarter GDP growth show an annualized gain of 3.5%, well ahead of expectations.
More informationCITIES IN THE WEST: SEATTLE, LAS VEGAS AND SAN FRANCISCO LEAD GAINS IN S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES
CITIES IN THE WEST: SEATTLE, LAS VEGAS AND SAN FRANCISCO LEAD GAINS IN S&P CORELOGIC CASE-SHILLER HOME PRICE INDICES NEW YORK, JANUARY 30, 2018 S&P Dow Jones Indices today released the latest results for
More informationBerkshire County Living: Nestled in the beautiful hills of western Massachusetts Where art and nature come to play
Berkshire County Living: Nestled in the beautiful hills of western Massachusetts Where art and nature come to play This report was written by Sandra J. Carroll, Chief Executive Officer. Information believed
More informationAEI Center on Housing Markets and Finance Announces Ten Best and Worst Metro Areas to Be a First Time Homebuyer
AEI Center on Housing Markets and Finance Announces Ten Best and Worst Metro Areas to Be a First Time Homebuyer Edward Pinto and Tobias Peter November 28th, 2018 New AEI study ranks 50 metros by home price
More informationThe U.S. and California Is The Recovery Here at Last? UCLA Anderson School of
The U.S. and California Is The Recovery Here at Last? Jerry Nickelsburg Senior Economist UCLA Anderson Forecast State of the County January 20, 2010 SEPTEMBER 2008 In September 2008 Financial Markets Stopped
More informationCaptain CREDIT Crunch
Captain CREDIT Crunch April 9, 2008 Presented by: Patrick Devereaux Senior Director The Times They Are A-Changin Post Credit Crunch Investment Market Fundamentals Of Commercial Real Estate Remain Strong
More informationMultifamily Investing: Expectations, Realities, Assessment of Conventional Wisdoms
REACH RESEARCH RESULTS Multifamily Investing: Expectations, Realities, Assessment of Conventional Wisdoms July 2016 James Halliwell, Managing Director Principal Real Estate Investors PROPERTY SALES VOLUME
More informationU.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE
AEW RESEARCH U.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE Q4 2018 AEW RESEARCH U.S. ECONOMIC & PROPERTY MARKET PERSPECTIVE Q 4 2018 1 Prepared by AEW Research, March 2019 This material is intended for information
More informationSEPTEMBER S&P CORELOGIC CASE-SHILLER NATIONAL HOME PRICE NSA INDEX UP 6.2% IN LAST 12 MONTHS
SEPTEMBER S&P CORELOGIC CASE-SHILLER NATIONAL HOME PRICE NSA INDEX UP 6.2% IN LAST 12 MONTHS NEW YORK, NOVEMBER 28, 2017 S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller
More informationS&P CORELOGIC CASE-SHILLER NATIONAL HOME PRICE NSA INDEX CONTINUES STEADY GAINS IN OCTOBER
S&P CORELOGIC CASE-SHILLER NATIONAL HOME PRICE NSA INDEX CONTINUES STEADY GAINS IN OCTOBER NEW YORK, DECEMBER 26, 2017 S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller
More informationCAPITALIZATION RATES BY PROPERTY TYPE
RATES BY PROPERTY TYPE MID-YEAR 2014 0 RATES BY ASSET TYPE MID-YEAR 2014 O V E R V I E W Capital continues to flow steadily into the U.S. real estate market, as both domestic and foreign investors increase
More informationINTRODUCTION AND SUMMARY
1 INTRODUCTION AND SUMMARY Rising house prices and incomes, an aging housing stock, and a pickup in household growth are all contributing to today s strong home improvement market. Demand is robust in
More informationLAS VEGAS LEADS PRICE GAINS IN JUNE ACCORDING TO S&P CORELOGIC CASE-SHILLER INDEX
LAS VEGAS LEADS PRICE GAINS IN JUNE ACCORDING TO S&P CORELOGIC CASE-SHILLER INDEX NEW YORK, AUGUST 28, 2018 S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices,
More informationPRESS RELEASE. Home Price Gains Continue to Moderate According to the S&P/Case-Shiller Home Price Indices
Home Price Gains Continue to Moderate According to the S&P/Case-Shiller Home Price Indices New York, July 29, 2014 Data through May 2014, released today by for its S&P/Case-Shiller 1 Home Price Indices,
More informationCYCLE FORECAST Real Estate Market Cycles First Quarter 2018 Estimates May 2017
CYCLE FORECAST Real Estate Market Cycles First Quarter 20 Estimates May 20 So far, 20 continues along at a slow Gross Domestic Product (GDP) growth rate near 2% and employment continues to hover above
More informationCycle Monitor Real Estate Market Cycles First Quarter 2018 Analysis
Black Creek Research Cycle Monitor Real Estate Market Cycles First Quarter 20 Analysis Real estate physical market cycle analysis of five property types in Metropolitan Statistical Areas (MSAs). Equilibrium
More informationCapital Market Update. February 10, 2011 Marc Louargand, Ph.D., CRE, FRICS Principal SALTASH PARTNERS LLC investing in American ingenuity
Capital Market Update February 10, 2011 Marc Louargand, Ph.D., CRE, FRICS Principal SALTASH PARTNERS LLC investing in American ingenuity A Brief Tour of the Capital Market What s happened in the past year?
More informationS&P/Case-Shiller Home Price Indices
Home Prices Off to a Dismal Start in 2011 According to the S&P/Case-Shiller Home Price Indices New York, March 29, 2011 Data through January 2011, released today by Standard & Poor s for its S&P/Case-Shiller
More informationNationally, Home Prices Went Up in the Second Quarter of 2011 According to the S&P/Case-Shiller Home Price Indices
Nationally, Home Prices Went Up in the Second Quarter of 2011 According to the S&P/Case-Shiller Home Price Indices New York, August 30, 2011 Data through June 2011, released today by S&P Indices for its
More informationUS Hotel Industry Overview. Chris Crenshaw
US Hotel Industry Overview Chris Crenshaw ccrenshaw@str.com July 2014 (12 MMA): All Signs Point To A Sellers Market % Change Room Supply* 1.8 bn 0.8% Room Demand* 1.1 bn 3.4% Occupancy 63 % 2.6% A.D.R.*
More informationS&P/Case-Shiller Home Price Indices
Annual Rates of Change Continue to Improve According to the S&P/Case-Shiller Home Price Indices New York, October 25, 2011 Data through August 2011, released today by S&P Indices for its S&P/Case-Shiller
More informationUS CAPITAL MARKETS REPORT
US CAPITAL MARKETS REPORT Capitalization Rates By Property Type Fall 2016 US Capital Markets Report Capitalization Rates By Asset Type OVERVIEW Year-to-date investment sales volume lagged on a year-over-year
More informationAll Three Home Price Composites End 2011 at New Lows According to the S&P/Case-Shiller Home Price Indices
PRESS RELEASE All Three Home Price Composites End 2011 at New Lows According to the S&P/Case-Shiller Home Price Indices New York, February 28, 2012 Data through December 2011, released today by S&P Indices
More informationBanks at a Glance: Economic and Banking Highlights by State 2Q 2018
Economic and Banking Highlights by State 2Q 2018 These semi-annual reports highlight key indicators of economic and banking conditions within each of the nine states comprising the 12th Federal Reserve
More informationAvison Young U.S. National Industrial Capital Markets
Avison Young U.S. National Industrial Capital Markets Mid-Year 017 Spotlight - Foreign Investment in U.S. Capital Markets June 017 Erik Foster Principal, Practice Leader U.S. Industrial Capital Markets
More informationCycle Monitor Real Estate Market Cycles Fourth Quarter 2017 Analysis
Black Creek Research Cycle Monitor Real Estate Market Cycles Fourth Quarter 0 Analysis Real Estate Physical Market Cycle Analysis of Property Types in Metropolitan Statistical Areas (MSAs). Many economists
More informationHome Prices Extend Gains According to the S&P/Case-Shiller Home Price Indices
PRESS RELEASE Home Prices Extend Gains According to the S&P/Case-Shiller Home Price Indices New York, January 29, 2013 Data through November 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller
More informationTEXAS MULTIFAMILY FOLLOW THE MONEY. THE CAPITAL MARKETS PERSPECTIVE Jeanette I. Rice, Americas Head of Investment Research February 12, 2016
TEXAS MULTIFAMILY FOLLOW THE MONEY THE CAPITAL MARKETS PERSPECTIVE Jeanette I. Rice, Americas Head of Investment Research February 12, 2016 MULTIFAMILY ON TOP OF THE MARKET 2 MONEY IS FOLLOWING MULTIFAMILY
More informationPerspectives JAN Market Preview: Real Estate
Perspectives JAN 2019 2019 Market Preview: Real Estate NAVIGATING THROUGH A LATE MARKET CYCLE The real estate sector managed to pull off another strong year in 2018, delivering a total return of 8.35%,
More informationAIA / COMPENSATION REPORT Compensation Report 2015 SAMPLE CHAPTER
NATIONAL REPORT Compensation Report 2015 4 Like employers in the broader construction industry, U.S. architecture firms are still recovering from the economic effects of the Great Recession. In recent
More informationQ1 16 ECONOMIC OUTLOOK Washington Metro Area
www.capitalbankmd.com PARTNERS in YOUR VISION Q1 16 ECONOMIC OUTLOOK Washington Metro Area Dr. Stephen Fuller Published March 216 Capital Bank N.A. 1 Church Street, Suite 3 Rockville, MD 28 www.capitalbankmd.com
More informationState of the Office Market
State of the Office Market Al Pontius Brian McAuliffe James Street Bill Rogalla Managing Director Marcus & Millichap Head of Transactions RREEF Co-Head, Dispositions Prudential Real Estate Investors Senior
More information4Q 2018 UNITED STATES MULTIFAMILY CAPITAL MARKETS REPORT
4Q 2018 UNITED STATES MULTIFAMILY CAPITAL MARKETS REPORT TABLE OF CONTENTS 3 Key Takeaways 4 Sales Volume 5 Sales Volume by Market 6 NCREIF Total Returns 7 Yield Spread 8 Cap Rates 9 Price Per Unit 10
More informationAddendum to: The Community Reinvestment Act: A Welcome Anomaly in the Foreclosure Crisis
Addendum to: The Community Reinvestment Act: A Welcome Anomaly in the Foreclosure Crisis Relevant Figures Recalculated to Include CRA Bank Affiliate Lending January 14, 2008 Prepared by: Attorneys at Law
More informationSTATE OF THE REAL ESTATE MARKET FALL Robert J. Strachota MAI, MCBA, CRE, FIBA 35 th Annual Real Estate Institute November 2, 2017 CLE
STATE OF THE REAL ESTATE MARKET FALL 2017 Robert J. Strachota MAI, MCBA, CRE, FIBA 35 th Annual Real Estate Institute November 2, 2017 CLE 1 Ladies and gentlemen, you are the jury for the state of the
More information4Q 2018 UNITED STATES MULTIFAMILY CAPITAL MARKETS REPORT
4Q 2018 UNITED STATES MULTIFAMILY CAPITAL MARKETS REPORT TABLE OF CONTENTS 3 Key Takeaways 4 Sales Volume 5 Sales Volume by Market 6 NCRIEF Total Returns 7 Yield Spread 8 Cap Rates 9 Price Per Unit 10
More informationRETAIL CONTINUES TO STRUGGLE AS IMPROVEMENTS ARE NOT YET SUSTAINED
RETAIL MARKET REPORT: 2Q RETAIL CONTINUES TO STRUGGLE AS IMPROVEMENTS ARE NOT YET SUSTAINED KEY INDICATORS: Key retail market indicators continue to send mixed signals. Monthly retail sales (excluding
More informationPace of Decline in Home Prices Moderates as the First Quarter of 2012 Ends, According to the S&P/Case-Shiller Home Price Indices
PRESS RELEASE Pace of Decline in Home Prices Moderates as the First Quarter of 2012 Ends, According to the S&P/Case-Shiller Home Price Indices New York, May 29, 2012 Data through March 2012, released today
More informationHousing Recovery is Underway, But Not for Everyone
Housing Recovery is Underway, But Not for Everyone Eric Belsky August 2013 Dallas, TX Housing Markets Have Corrected In Significant Ways Both price and quantity reductions have occurred Even after price
More informationThe Challenges & Opportunities From Falling Energy Prices March 2015
The Challenges & Opportunities From Falling Energy Prices March 2015 page 1 Agenda Oil Market: Macro Overview Deep Dive: Houston Economy & CRE Markets Beneficiaries: Who Stands To Gain From Cheap Oil?
More informationPerspectives on U.S. real estate investment
Perspectives on U.S. real estate investment Looking ahead in 2017 Sean Coghlan Director, Investor Research April 7, 2017 The past year s headlines have been unsettling in impact, frequency and market reaction
More informationMoody s/real Commercial Property Price Indices, January 2010
JANUARY 20 STRUCTURED FINANCE SPECIAL REPORT Moody s/real Commercial Property Price Indices, January 20 Table of Contents: OVERVIEW 1 NATIONAL ALL PROPERTY TYPE AGGREGATE INDEX 4 APPENDIX 7 Analyst Contacts
More informationStrong conclusion to 2015, some caution ahead in 2016
MARKETVIEW U.S. Office, Q4 215 Strong conclusion to 215, some caution ahead in 216 Vacancy Rate 13.1% Lease Rate $29.7 PSF Net Absorption 19.4 MSF Completions 12.1 MSF *Arrows indicate change from previous
More informationCOMMERCIAL REAL ESTATE MARKET AND INDUSTRY OUTLOOK THE BIG PICTURE 2019 AND BEYOND
COMMERCIAL REAL ESTATE MARKET AND INDUSTRY OUTLOOK THE BIG PICTURE 2019 AND BEYOND 10-Year Economic Lookback 2007 The Height of the Last Cycle 25.4 Million Increase in Population Since 2007 10.4 Million
More informationS&P CORELOGIC CASE-SHILLER NATIONAL INDEX SETS 30-MONTH ANNUAL RETURN HIGH
S&P CORELOGIC CASE-SHILLER NATIONAL INDEX SETS 30-MONTH ANNUAL RETURN HIGH NEW YORK, FEBRUARY 28, 2017 S&P Dow Jones Indices today released the latest results for the S&P CoreLogic Case-Shiller Indices,
More informationU.S. Economic and Medical Office Market Overview and Outlook. November, 2014
2014 U.S. Economic and Medical Office Market Overview and Outlook November, 2014 Economic & Demographic Overview U.S. GDP Growth and Health Care Spending Trends GDP Health Care Expenditures Annualized
More informationReview of Northern Virginia Market Conditions and Trends
Review of Northern Virginia Market Conditions and Trends Prepared for Northern Virginia Area Association of Realtors November 12, 2011 Virginia Housing Development Authority Northern Virginia s existing
More informationGLOBAL INSTABILITY LEADS TO INCREASED CAUTION; CAP RATE COMPRESSION SLOWS
CAP RATE REPORT 1Q GLOBAL INSTABILITY LEADS TO INCREASED CAUTION; CAP RATE COMPRESSION SLOWS Prepared by: Hasan Rahim Real Estate Market Analytics PNC 300 Fifth Avenue Pittsburgh, PA 15222 (412) 762-8683
More informationThe state of the nation s Housing 2013
The state of the nation s Housing 2013 Fact Sheet PURPOSE The State of the Nation s Housing report has been released annually by Harvard University s Joint Center for Housing Studies since 1988. Now in
More informationERRATA. To: Recipients of MG-388-RC, Estimating Terrorism Risk, RAND Corporation Publications Department. Date: December 2005
ERRATA To: Recipients of MG-388-RC, Estimating Terrorism Risk, 25 From: RAND Corporation Publications Department Date: December 25 Re: Corrected pages (pp. 23 24, Table 4.1,, Density, Density- Weighted,
More informationMoody s/real Commercial Property Price Indices, December 2010
DECEMBER 21, 2010 STRUCTURED FINANCE SPECIAL REPORT Moody s/real Commercial Property Price Indices, December 2010 Table of Contents: OVERVIEW 1 Notable Observations and Themes 3 NATIONAL ALL PROPERTY TYPE
More informationAre You as Diversified as You Think?
Are You as Diversified as You Think? A BERKSHIRE RESEARCH VIEWPOINT August 2017 Are You as Diversified as You Think? A BERKSHIRE RESEARCH VIEWPOINT August 2017 2 EXECUTIVE SUMMARY As the U.S. business
More information2015 REAL ESTATE ECONOMIC FORECAST The National Economy and What It Means For Real Estate
2015 REAL ESTATE ECONOMIC FORECAST The National Economy and What It Means For Real Estate February 5, 2015 Jeanette I. Rice Kentucky Chapter National economy in great shape for 2015 Creating excellent
More informationEmerging Trends in Real Estate Sustaining Momentum but Taking Nothing for Granted
Emerging Trends in Real Estate 2015 Sustaining Momentum but Taking Nothing for Granted DALLAS November 6, 2014 36th annual outlook 1,400+ interviews and surveys of industry leaders Rewind: 2014 Emerging
More information2014 COMPENSATION REPORT FOR FINANCIAL PROFESSIONS
2014 COMPENSATION REPORT FOR FINANCIAL PROFESSIONS WE RE CENTURY GROUP. And we execute an average of 1,500 searches a year in finance and accounting. Promptly. Precisely. Reliably. Delivering the kind
More informationEmerging Trends in Real Estate Sustaining Momentum but Taking Nothing for Granted
Emerging Trends in Real Estate 2015 Sustaining Momentum but Taking Nothing for Granted PwC-ULI Outlook on trends 36th edition 368 interviews 1,055 survey responses 1,400+ participants, a record Who? District
More informationFinancial Strength and Operational Excellence
Financial Strength and Operational Excellence 425 Mass Washington, D.C. RiverTower New York, NY Longacre House New York, NY 1401 Joyce on Pentagon Row Arlington, VA JUNE 2010 Trump Place New York, NY 180
More informationU.S. Investment Outlook
U.S. Investment Outlook Quarterly Investor Research update Q2 2015 U.S. Investment overview 37% 21% 15% 15% U.S. cities dominating global investment activity Top 20 Cities for Transactional Volumes H1
More informationOffice. Office. IRR Viewpoint 2015
IRR Viewpoint 05 Above: Designed in 95 in the Art Deco style by architect Timothy Pflueger as the Pacific Telephone and Telegraph Building, 40 New Montgomery Street, San Francisco, CA has been the subject
More informationCAPITAL MARKETS UPDATE. Suburban Office: Is this the Next Play?
CAPITAL MARKETS UPDATE Suburban Office: Is this the Next Play? October 2016 Investment Thesis Background Suburban office product has lagged the property recovery cycle. Most of the lag is the result of
More informationRECOVERY CONTINUES FOR LOGISTICS REAL ESTATE
RECOVERY CONTINUES FOR LOGISTICS REAL ESTATE World events trigger soft patch The global economic soft patch in the first half of 2011 was primarily caused by the cost of oil reaching $114 per barrel, rising
More informationAddendum to: The Community Reinvestment Act: A Welcome Anomaly in the Foreclosure Crisis
Addendum to: The Community Reinvestment Act: A Welcome Anomaly in the Foreclosure Crisis Relevant Figures Recalculated to Include CRA Bank Affiliate Lending January 14, 2008 Authored by: WARREN W. TRAIGER
More informationHotels & Hospitality Group
Hotels & Hospitality Group January 2018 North America Hotel Investor Sentiment Survey North America Hotel Investor Sentiment Survey Renewed freshness and energy in hotel investment community Despite entering
More informationPRESS RELEASE. Widespread Slowdown in Home Price Gains According to the S&P/Case-Shiller Home Price Indices
Widespread Slowdown in Home Price Gains According to the S&P/Case-Shiller Home Price Indices New York, August 26, 2014 Data through June 2014, released today by for its S&P/Case-Shiller 1 Home Price Indices,
More informationWall Street and Commercial Real Estate
Wall Street and Commercial Real Estate Everett (Allen) Greer April 26, 2012 Los Angeles, CA City National Bank Goals of Presentation Disclaimers Market Drivers Economy, Interest Rates Financial Regulations
More informationState of the Banking Industry
State of the Banking Industry Andrew S. Howell President and Chief Executive Officer Challenges and Opportunities Factors Impacting the Banking Industry o Housing Markets o Mortgage Markets Fifth District
More informationEconomic and Real Estate Forecast 2014
Economic and Real Estate Forecast 2014 Presented to: The IREM Forecast Breakfast Presented by: Mark J. Eppli Interim Keyes Dean and Bell Chair in Real Estate Marquette University January 9, 2014 Interest
More information