Despite persisting supply chain issues, core retail sales still ticked up 3.2% year over year on an inflation-adjusted basis in April, with home furnishings and clothing retailers—both categories of items most commonly found in storage units—posting record sales volume.
And according to Marcus & Millichap, those numbers bode well for the self-storage sector.
"Purchasing in these segments should support rental usage as some older goods are placed away for safekeeping," the firm's analysts note in a new report, adding that the sector appears well positioned to withstand inflationary headwinds.
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