{"id":9190,"date":"2023-05-12T23:48:33","date_gmt":"2023-05-13T07:48:33","guid":{"rendered":"https:\/\/bmcre.freewebsite.org.in\/wp1\/?p=9190"},"modified":"2023-05-22T01:44:11","modified_gmt":"2023-05-22T09:44:11","slug":"movie-theater-attendance-still-lags-home-prices-drop-office-attendance-ticks-up","status":"publish","type":"post","link":"https:\/\/bmcre.freewebsite.org.in\/wp1\/2023\/05\/12\/movie-theater-attendance-still-lags-home-prices-drop-office-attendance-ticks-up\/","title":{"rendered":"Movie Theater Attendance Still Lags, Home Prices Drop, Office Attendance Ticks Up"},"content":{"rendered":"\t\t
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What You Need To Know To Start Your Day<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Researchers said movie theater traffic rebounded during the past year but remains well below pre-pandemic levels. (Getty Images)<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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By\u00a0<\/strong>Lou Hirsh,\u00a0<\/strong>CoStar News\u00a0<\/strong>March 28, 2023 | 3:52 P.M.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Movie Theater Attendance Still Lags<\/h3>

Entertainment-related foot traffic at U.S. commercial centers continues to rebound from levels seen in the early days of the pandemic, though movie theater attendance remains down 34% from pre-pandemic levels.<\/p>

A new report from traffic analytics firm Placer.ai also noted that casinos, including hotel casinos, saw foot traffic decline 18.8% in 2022 compared with 2019. In contrast, \u201ceatertainment\u201d venues combining sports and games with on-site dining \u2014 such as Dave & Buster’s, Bowlero and Topgolf \u2014 saw foot traffic rise 3.8% from pre-pandemic levels.<\/p>

Researchers said all three entertainment categories in 2022 posted traffic gains from 2021, with casinos rising 1%, eatertainment venues gaining 17.3% and movie theaters increasing 53.5%.<\/p>

Executives of major theater chains have reported significant box office gains in the past few months, but the overall number of Hollywood movie releases has yet to return to pre-pandemic levels. Retail center owners counting on theaters to drive traffic are up against numerous big-media streaming services increasingly keeping customers at home.<\/p>

\u201cDespite the ease of watching movies at home, foot traffic data indicates that there is still a strong demand for an in-theater experience,\u201d Placer.ai researchers said in a report March 23. Theaters are responding by adjusting pricing for certain \u201csurge\u201d periods, such as AMC Theatres\u2019 move to charge more for seats in the middle of auditoriums during higher-demand evening showings.<\/p>

Home Prices Drop<\/h3>

U.S. home prices declined for the seventh consecutive month in January, with notable drops in West Coast regions that had held up relatively well in recent months despite rising interest rates.<\/p>

The latest data from the closely watched S&P CoreLogic Case-Shiller index showed January\u2019s average sale prices were down 0.2% from the prior month. Prices were up 3.8% on annual basis, but that was down from the 5.6% annual growth rate seen in December 2022.<\/p>

Like other analysts, authors of the monthly index cited lingering issues including high interest rates and affordability challenges now discouraging prospective buyers, including apartment renters, in most U.S. regions. Other disruptions including banking industry volatility and persistent inflation could put further downward pressure on home purchases.<\/p>

\u201cMortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,\u201d Craig Lazzara, managing director at S&P Dow Jones Indexes, said in a statement Tuesday.<\/p>

Researchers said declining prices are now being seen in large western regions that until just recently had seen strong annual price growth, including San Francisco, San Diego, Seattle and Portland, Oregon. Cities showing the highest annual price gains in January included Miami at 13.8%, Tampa, Florida, at 10.5% and Atlanta at 8.4%.<\/p>

Office Attendance Ticks Up<\/h3>

Office attendance in 10 large U.S. cities averaged 48.4% of pre-pandemic levels for the week ended March 22, up slightly from 47.3% in the previous week, according to the latest tracking by security technology firm Kastle Systems.<\/p>

The firm\u2019s \u201cBack to Work Barometer,\u201d based on anonymous keycard data from clients\u2019 office properties, showed office use remaining close to the pandemic high of 50.1% reached in the week ended Feb. 22.<\/p>

But attendance remains stubbornly below 50% of pre-pandemic levels in most major U.S. cities, as many workers now routinely spend at least part of the workweek at home or in other locations outside a traditional office.<\/p>

The latest numbers showed all of the barometer cities posting increases from the prior week except for Washington, D.C. Figures were topped by Austin, Texas, at 58%, Houston at 57.6%, Dallas at 51.5% and Chicago at 50.8%.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

What You Need To Know To Start Your Day Researchers said movie theater traffic rebounded during the past year but remains well below pre-pandemic levels. (Getty Images) By\u00a0Lou Hirsh,\u00a0CoStar News\u00a0March 28, 2023 | 3:52 P.M. Movie Theater Attendance Still Lags Entertainment-related foot traffic at U.S. commercial centers continues to rebound from levels seen in the early days of the pandemic, though movie theater attendance remains down 34% from pre-pandemic levels. A new report from traffic analytics firm Placer.ai also noted that casinos, including hotel casinos, saw foot traffic decline 18.8% in 2022 compared with 2019. In contrast, \u201ceatertainment\u201d venues combining sports and games with on-site dining \u2014 such as Dave & Buster’s, Bowlero and Topgolf \u2014 saw foot traffic rise 3.8% from pre-pandemic levels. Researchers said all three entertainment categories in 2022 posted traffic gains from 2021, with casinos rising 1%, eatertainment venues gaining 17.3% and movie theaters increasing 53.5%. Executives of major theater chains have reported significant box office gains in the past few months, but the overall number of Hollywood movie releases has yet to return to pre-pandemic levels. Retail center owners counting on theaters to drive traffic are up against numerous big-media streaming services increasingly keeping customers at home. \u201cDespite the ease of watching movies at home, foot traffic data indicates that there is still a strong demand for an in-theater experience,\u201d Placer.ai researchers said in a report March 23. Theaters are responding by adjusting pricing for certain \u201csurge\u201d periods, such as AMC Theatres\u2019 move to charge more for seats in the middle of auditoriums during higher-demand evening showings. Home Prices Drop U.S. home prices declined for the seventh consecutive month in January, with notable drops in West Coast regions that had held up relatively well in recent months despite rising interest rates. The latest data from the closely watched S&P CoreLogic Case-Shiller index showed January\u2019s average sale prices were down 0.2% from the prior month. Prices were up 3.8% on annual basis, but that was down from the 5.6% annual growth rate seen in December 2022. Like other analysts, authors of the monthly index cited lingering issues including high interest rates and affordability challenges now discouraging prospective buyers, including apartment renters, in most U.S. regions. Other disruptions including banking industry volatility and persistent inflation could put further downward pressure on home purchases. \u201cMortgage financing and the prospect of economic weakness are therefore likely to remain a headwind for housing prices for at least the next several months,\u201d Craig Lazzara, managing director at S&P Dow Jones Indexes, said in a statement Tuesday. Researchers said declining prices are now being seen in large western regions that until just recently had seen strong annual price growth, including San Francisco, San Diego, Seattle and Portland, Oregon. Cities showing the highest annual price gains in January included Miami at 13.8%, Tampa, Florida, at 10.5% and Atlanta at 8.4%. Office Attendance Ticks Up Office attendance in 10 large U.S. cities averaged 48.4% of pre-pandemic levels for the week ended March 22, up slightly from 47.3% in the previous week, according to the latest tracking by security technology firm Kastle Systems. The firm\u2019s \u201cBack to Work Barometer,\u201d based on anonymous keycard data from clients\u2019 office properties, showed office use remaining close to the pandemic high of 50.1% reached in the week ended Feb. 22. But attendance remains stubbornly below 50% of pre-pandemic levels in most major U.S. cities, as many workers now routinely spend at least part of the workweek at home or in other locations outside a traditional office. The latest numbers showed all of the barometer cities posting increases from the prior week except for Washington, D.C. Figures were topped by Austin, Texas, at 58%, Houston at 57.6%, Dallas at 51.5% and Chicago at 50.8%.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"footnotes":""},"categories":[46,49],"tags":[],"class_list":["post-9190","post","type-post","status-publish","format-standard","hentry","category-market-news-2023-q1","category-market-news"],"_links":{"self":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/posts\/9190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/comments?post=9190"}],"version-history":[{"count":4,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/posts\/9190\/revisions"}],"predecessor-version":[{"id":9195,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/posts\/9190\/revisions\/9195"}],"wp:attachment":[{"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/media?parent=9190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/categories?post=9190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bmcre.freewebsite.org.in\/wp1\/wp-json\/wp\/v2\/tags?post=9190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}