The third monthly survey from the professional organization measuring COVID-19's impact saw an increase in overall market confidence and increased on schedule transactions in the industrial sector.
Hotel transactions internationally dropped by half in this year's first five months and by 87% in the second quarter compared with the same time frames last year.
While near-term metrics for student housing contain bad news, analyst Keegan Kelly wrote that the market is likely to recover when a reliable vaccine becomes available, hopefully by the start of the 2021-22 school year.
"Needless to say, there is much more work to be done, both in terms of effective, transparent reporting and community engagement, especially with respect to bringing African Americans and other people of color into the REIT and real estate investment industry," Nareit CEO Steven Wechsler said.
The effect of COVID-19 could lead to increased demand for real estate—think about the need for social distancing in business, government and entertainment venues—or lower demand as virtual work expands.