Last week saw ugly selling in the stock market while many states allowed restaurants, businesses, and retail stores to reopen. Despite the pressure, markets were able to rally back on Friday and looked strong going into the weekend. While ultimately lower prices are expected, if what SHOULD happen - doesn't...then be prepared for better than expected outcomes in the short run.
NMHC's Rent Payment tracker currently indicates that 87.7% of Apartment households paid rent as of May 13th, only a 2.1% decrease over May - 2019 numbers. This is very near the average monthly payment rate over the last 5 years.
On the economic calendar & reporting this week: Building Permits/Housing Starts(Tue. 8:30AM ET), Weekly Jobless Claims & Manufacturing PMI(Thurs. 8:30 AM ET).
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