The Colliers Index remains at 5 for the month of October as a multitude of negative economic factors persist and are affecting overall optimism in the market.
As much as we would like to move the Colliers Index upwards, it will remain at a 5 for the month of October as a multitude of negative economic factors persist and are affecting overall optimism in the market. Specifically, inflation continues to show non-transient attributes. September’s 5.4% year-over-year increase in consumer prices reflects a 13-year high and is the fourth consecutive month at or above the 5% level. Supply chain disruptions have also shown no sign of slowing with a record number of ships waiting to offload cargo. In spite of these concerns, the local economy and CRE market are solid. Atlanta’s overall recovery is well underway and posted strong results over the past quarter.
Current Market Conditions
The September jobs report fell well short of expectations missing forecasts by over 300,000 jobs. The delta variant, which wreaked havoc over the summer months, can largely be attributed for the disappointing results. In spite of the miss, unemployment actually fell during the month but mostly due to a shrinking of the labor force.
Download the full report to learn about the economic data contributing to the Atlanta economic outlook for October including:
Real estate development
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