Retailers occupied 5.5 million more square feet than they vacated in the third quarter, a turnaround from the first half of the year. The national retail vacancy rate was 4.3% in the third quarter, with retail construction remaining near historically low levels.
Large investors have bought $4.6 billion more U.S. property than they sold so far in 2025—the first time in three years that they have been net purchasers. However, deal activity is weak compared with historic norms.
Over the past two decades, developers in New York have converted nearly 30 million square feet of office space into residential living, with the pace of transformation picking up in recent years.
The Justice Department resolution limits how RealPage can use nonpublic data to propose rents that corporate landlords should charge to optimize occupancy and maximize revenues. Under the proposed settlement, RealPage can still use some nonpublic data to train its artificial-intelligence models if the information is older than 12 months. It also can use the confidential data to estimate what a new building, without any rental-property history, should charge to tenants.
About 57% of homes sold in 2025 through October had at least one price cut, indicating that a significant number of sellers are entering the market with unrealistic expectations. Between 2020 and 2024, that share was closer to 47%. For homes that sold this year with a price cut, the sale price was an average of 3.7% below the asking price.
The U.S. office vacancy rate is 14.1%, near a record high. Office mortgage delinquency rates for commercial mortgage-backed securities reached 11.8%, nearly six times the 2019 rate. Office property sales totaled $45.4 billion in the first three quarters of this year, less than half of 2019’s $102.6 billion.
Big tech companies are expected to spend nearly $3 trillion on AI through 2028 but only generate enough cash to cover half that tab.
People who borrow from a builder are more likely to overpay for their property and be underwater after they move in.
Real-estate giant Blackstone is liquidating a major investment gone wrong: a $1.8 billion wager on senior housing that has saddled the firm with more than $600 million in losses. It is shaping up to be one of the New York firm’s worst investments in recent years. The firm also said its losses were part of a $33.5 billion fund that otherwise had strong performance, nearly doubling investors’ capital.
Recent federal data put domestic Data Center development at $41 billion in annual investment, but estimated roughly 72% of all server-farm capacity sat in just 1% of counties as of July.
