The Cornell Center for Real Estate and Finance has developed a series of real estate return indices in support of the real estate investment and finance community. The quarterly Cornell Real Estate Market Indices have filled an information gap for real estate owners, investors, and stakeholders by providing a statistically reliable set of return indices.

Recent Submissions

  • Pole Vaulting to New High 

    Liu, Crocker; Nowak, Adam; White, Robert Jr (2021-11-01)
    Hotel prices continued to gain ground during the recent quarter, regaining losses incurred during the pandemic. Prices in all regions are reverting to their long-term average, with hotels in the Pacific and South Atlantic ...
  • Second Quarter 2021: Are We There Yet? 

    Liu, Crocker; Nowak, Adam; White, Robert Jr (2021-07-15)
    United States hotel prices have rebounded above their statistical lower bound in all regions except the Mountain states, signaling a return toward their pre-pandemic level—although we are not quite there yet. Prices of ...
  • The Phoenix Is Rising 

    Liu, Crocker; Nowak, Adam; White, Robert Jr (2021-04-19)
    Although the price of hotels along the east coast declined again this quarter the rate of decline has continued to lessen. Hotels in gateway cities reversed course, outperforming hotels in non-gateway cities. Our moving ...
  • A Glimmer of Hope Amidst a Hemorrhage 

    Liu, Crocker; Nowak, Adam; White, Robert Jr (2021-01-20)
    Prices of hotels along the east coast continue to drop, although the rate of decline has moderated. Hotels on the west coast enjoyed positive price momentum, both on a quarter-over-quarter or year-over-year basis. Hotels ...
  • Is It Time for Bottom Fishing? 

    Liu, Crocker; Nowak, Adam; White, Robert Jr (2020-10-12)
    The prices of hotels in all regions continue to hemorrhage, with hotels in the Middle Atlantic and South Atlantic regions particularly hard hit. In contrast, hotels in the Mountain states suffered the fewest losses. Hotels ...
  • Fourth Quarter 2013: Flight to Quality: Big Trumps Small 

    Liu, Crocker H.; Nowak, Adam D.; White, Robert M. Jr. (2014-01-01)
    A new hotel investment performance metric is introduced. Starting with this issue, we will apply our new economic value added (EVA) indicator as a barometer of hotel investment performance. Complete details of how to use ...
  • Third Quarter 2013: Good Vibes (Nahenahe) 

    Liu, Crocker H.; Nowak, Adam D.; White, Robert M. Jr. (2013-10-01)
    Our hotel real estate cycle analysis based on the repeat sales approach indicates that we will continue to experience an upward price momentum. This quarter, for the first time since the commercial real estate boom in 2004, ...
  • Second Quarter 2013: Where Are We in the Hotel Real Estate Cycle? 

    Liu, Crocker H.; Nowak, Adam D.; White, Robert M. Jr. (2013-07-01)
    We introduce a new tool in this issue to gauge where hotel prices are heading based on past hotel real estate cycles. Mixed signals exist and depend on the benchmark used. Cycle analysis based on the hedonic index indicates ...
  • First Quarter 2013: Is the Trend Our Friend? 

    Liu, Crocker H.; Nowak, Adam D.; White, Robert M. Jr. (2013-05-01)
    The Cornell Hotel Indices reveal that the hotel industry is continuing to experience positive price momentum for small hotels with a continued weakening in price for larger hotels. Hotel properties also exhibit a narrowing ...
  • Fourth Quarter 2012: Price Growth Is Moderating: A Return to Normalcy? 

    Liu, Crocker H.; Nowak, Adam D.; White, Robert M. Jr. (2013-01-01)
    The Cornell Hotel Indices reveal that the hotel industry is continuing to experience positive price momentum for small hotels, with a moderating of prices for larger hotels. Consistent with this weakening in the price for ...

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