While recent trends indicate slower economic expansion than we had initially forecast for 2013, Standard & Poor’s Ratings Services maintains a stable ratings outlook for the North American real estate investment trusts and real estate operating companies (collectively REITs) sector for 2013 and 2014. Our expectation for a continued gradual recovery in the economy, combined […]
George Skoufis is an director in the Real Estate Finance Group, a subgroup within the Corporate & Government Ratings Division of Standard & Poor's, having joined the group in 1998. He is one of six analysts within his group that follow 90 REITs, real estate operating companies and homebuilders.
George is responsible for the evaluation and surveillance of credit ratings for approximately 20 companies, with a particular focus on multifamily, industrial and healthcare REITs, as well as homebuilders. A Standard & Poor's employee since December of 1990, he previously worked in Standard & Poor's Investment Services Division researching publicly traded companies.George received an MBA in Finance from Fordham University's Graduate School of Business and a BBA in Banking and Finance from Hofstra University. He is an associate member of the National Association of Real Estate Investment Trusts.
Author Archives: George Skoufis
A limited supply of new and existing homes for sale in many U.S. markets and a shift in product mix to higher-price move-up and luxury homes have caused a jump in homebuilders’ average selling prices (ASP) so far in 2013. In addition, the decline in housing prices from peak levels and the historically low mortgage […]
Although the U.S. economic recovery remains tepid and 2012 job growth was lackluster at best, activity in one area—new home sales—was markedly hotter, jumping 20% in 2012 compared with 2011. Contributing to this growth were record home affordability, rising apartment rents, an increase in household formations, and a limited supply of existing homes for sale. […]
U.S. homebuilders continue to face headwinds as they recover from a very protracted downturn, but trends appear to be slowly improving. Standard & Poor’s Ratings Services’ base-case outlook for credit quality for the U.S. homebuilding sector in 2012 and 2013 is neutral. Our baseline economic forecast calls for a slow recovery, with real GDP growing […]
Will Mexico’s upcoming elections lay a new foundation for Mexico’s housing sector? Are homebuilders prepared to address sustainability, adapt to changes in regulation, and shape new markets? In this CreditMatters TV segment, Standard & Poor’s Associate Fernanda Hernandez discusses the key trends shaping the sector and our expectations for the intermediate term. Click here to […]
Operating conditions for U.S. homebuilders have improved over the past six months, and the sector’s overall credit quality has steadied as a result. Standard & Poor’s Ratings Services maintains a cautiously stable outlook for the builders it rates, but we acknowledge that trends could turn negative in the second half of 2012 if our baseline […]
The macroeconomic recovery should continue to benefit North American real estate investment trusts (REITs) and begin to aid battered homebuilders this year. But with uncertain stability in job growth and consumer confidence, how will these sectors shape up? In this CreditMatters TV segment, Standard & Poor’s Directors Beth Campbell and I explain expectations for REITS […]
It’s hard to imagine how operating conditions could have been better for U.S. multifamily REITs last year. As the housing slump stymied new single-family development due to weak demand, multifamily properties found themselves well occupied, which helped drive solid rent growth. They didn’t just stumble into the sweet spot last year, however. Multifamily REITs began […]