What’s Next for Retail Property Markets?
Strong April sales to date are bolstering hopes for a sustained recovery in retail. ICSC-Goldman reports a year-over-year increase retails sales pace of + 4.0 percent. Redbook reports a slight pullback in sales with signs of strength in home-related goods “as consumers are apparently gearing up for a busy home-improvement season.” (Note: Further investigation may reveal that the improvements consist of generators, camp axes, and other items from the survivalist gear list.)
But seriously, good economic news is hard to come be these days, and economists are falling all over themselves to disagree about a timeline for a recovery. Most push the timeline out to 2012 and beyond.
One thing researchers can agree on – the recovery in retail real estate will start in urban areas with strong demographics.
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