Analysis

More than 138,000 market-rate units were absorbed between January and March.

The segment benefits from increased online sales and reshoring activity.

Retail and hotel segments diverge, suggesting optimism and caution, respectively.

Toyota Financial Services had the largest first-quarter deal.

Costs in North America are among the highest in the world, led by New York City.

The rent increase through March was weaker than the typical first-quarter growth, but not by much.

The program has generated less than half of the revenues the city hoped to collect.

Invesco sees a “range of potential economic and capital market” risks that need management.