Colliers Quick Hits | July Numbers to Watch

by | 13 July 2023

At Colliers, we understand the importance of interconnected data, macroeconomic trends, and anecdotes in real estate decisions. With that in mind, here are 10 numbers that have recently caught our attention.

  • The Nasdaq composite rose 32% in the first six months of 2023, thanks to a boom in artificial intelligence.
  • Spending on manufacturing facilities accounted for 0.5% of GDP in the first quarter, the largest total since 1991, the Wall Street Journal noted.
  • Overall spending on manufacturing facilities is up 146% since January 2020, per the U.S. Census.
  • June manufacturing activity contracted for an eighth straight month, reported the Institute for Supply Management.
  • E-commerce product returns amount to $816 billion annually, and processing them takes two to three times longer than the initial order, per Fortune.
  • Bisnow reported that roughly 22% of Boston’s property taxes come from office buildings, and in San Francisco, that total is up about 18%, per the San Francisco Standard.
  • Burlington stores will take over 50 former Bed Bath & Beyond leases across the U.S., which is about a 5% increase in its store count.
  • The threshold for large multifamily loans moved up to $120 million from $75 million, increased by the Federal Housing Administration.
  • The Federal Reserve, FDIC, OCC, and NCUA issued guidance to financial firms that they should work with borrowers of commercial real estate loans by offering short-term loan accommodations, such as deferred or partial payments, Bloomberg reported. The Mortgage Bankers Association estimates that $1.7 trillion of loans are on depositories’ books.

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