U.S. REITs fell in November, with the FTSE Nareit Equity REITs Index declining nearly 0.7 percent in the month after rising 7.6 percent in October. The slide was in line with the broader equity market’s downward shift at the end of the month as the concerns about the Omicron variant of COVID-19 roiled markets. The S&P 500 Index was down 0.8 percent in November, following a rise of nearly 7 percent in October.
The best-performing property sectors in November were either those that have been consistently supported by secular trends (industrial, up 3.9 percent; data centers, up 2.2 percent; and apartments, up 0.2 percent) or are seeing an investment reversal after collapsing in recent years (regional malls, up 4.3 percent). Through the end of November, the best-performing sectors year-to-date include both types: regional malls (up 83.7 percent), self-storage (up 57.6 percent), apartments (up 52.0 percent) and sh