Manhattan office leasing activity reached 10.5 million square feet in Q2 2026, matching Q1’s pace and keeping the market on track for its strongest year since 2019. Availability fell to 14.1%, its lowest level since 2020.
The delinquency rate for multifamily loans in commercial mortgage-backed securities jumped from 1% in October 2023 to 7.1% this year, the biggest increase of any major property type.
Among thousands of public companies tracked, about 19% of dividend-payout announcements during the quarter have been for reductions, rather than for increases or no change. That would be the highest proportion since the second quarter of 2020 when the Covid-19 pandemic slammed into the global economy.
The distress rate in commercial real-estate collateralized loan obligations hit 28% in August, a jump from 19% in July. Most of the recent rise in distress in the CRE CLO market is driven by loans that were issued in 2021, when property values were at all-time highs and borrowing costs were at all-time lows.
U.S. apartment landlords face more than $1.8 trillion in debt coming due over the next decade, with about $757 billion maturing from now to 2028. Landlords must refinance at borrowing rates that are roughly double the levels of five years ago, when many of the original loans were made.
Across all brand scales, U.S. hospitality recorded 69.6% occupancy, an ADR of $173.76 and RevPAR of $120.97 in H1 2026. The report recorded 138,887 rooms under construction and 69,172 rooms delivered during the 12 months. Luxury properties had 72.5% occupancy, $419.39 ADR and $290.42 RevPAR, while economy properties recorded 58.3% occupancy, $82.18 ADR and $47.94 RevPAR.
Median household income topped the peak hit just before the Covid-19 pandemic, reaching $87,460 in 2025, up 2.6% from 2024 after adjusting for inflation. Upper-income households posted gains while lower-income households did not.
Airbnb is committing an initial $250 million investment to provide gap financing for housing projects, prioritizing affordable and mixed-income housing. The company will distribute the funds to developers through the Airbnb Housing Accelerator program, with returns expected to be below market rates.
U.S. existing-home sales fell 2% in August to a seasonally adjusted annual rate of 3.98 million, the lowest level in more than a year. The national median existing-home price in August rose 1.6% from a year earlier to $429,100.