GlobeSt.com: In analyzing the data, what did you find was the biggest surprise?
Sempere: There were a couple of things. I was impressed with the continued resiliency of the retail sector over the past few quarters, although it's waning. Consumer spending is still fueling the economy, but it seems to be slowing down, given the way July and August retail sales failed to meet economists' predictions. Our expectations are that there will be continued slowing in retail, but it's not going to turn negative. Another surprise was the strong price appreciation in both the retail and the apartment sector. In apartments, the year-over-year increase was 5.5%, and it was 7.8% in the retail sector. Overall, I'm surprised that real estate continues to do as well as it does.
GlobeSt.com: Because . . .
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
