For the week ending May 16, mutual funds dedicated to real estate saw an inflow of $19 million, driving total assets to $10.7 billion, a figure not seen since July 1998. The average 30-day trading volume increased to 16.5 million, 1.3% above that of the week before.

Last week saw some REITs returning to the equity markets with Health Care Property Investors raising $122 million while Glimcher Realty Trust garnered $78 million. All told, more than $300 million in common equity capital has been raised this month by REITs, approximately $800 million since the beginning of the year. The Monitor estimates this year REIT's will exceed the common equity issuance of $1 billion reached in 2000.

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