Average 30-year mortgages have climbed to around 6.7% from roughly 6.1% since the Fed started lowering rates in September and are only poised to rise further as the yield on the 10-year Treasurys continue to rise.

Even though foot traffic is still below prepandemic levels, retailers are leasing more space at outlet shopping centers, where designers sell heavily discounted surplus or lower-quality items.

Blackstone has entered into definitive agreements to acquire Tokyo Garden Terrace Kioicho, an acclaimed 2.4 million square feet of mixed-use asset, from affiliates of Seibu Holdings. At $2.6 billion, this marks the largest real estate investment by a foreign investor in Japan and the firm’s largest investment to date across businesses in the market.

From 2021 to 2023, the share of build-to-rent housing starts doubled to 10% of overall single-family housing.

Wells Fargo will sell its headquarters office at 420 Montgomery St. in San Francisco’s Financial District. The sale would cement a yearslong shift by Wells Fargo away from San Francisco, with its senior leadership now largely based in New York or Charlotte, N.C.

The 71 million square feet of conversions that are planned or under way only account for 1.7% of U.S. office inventory.

Americans bought $300 billion in retail goods online last quarter, with e-commerce accounting for 16.2% of all retail sales. That proportion is nearly back to peak levels in 2020, when many stores were closed.

Some 672,000 new apartment units will have been completed by the end of this year, but only about half that number is expected in 2025, and even fewer in 2026.

The vacancy rate of apartment units stopped rising for the first time in three years last quarter, as demand for apartments rose to its highest levels since 2021.

The national commercial foreclosure market peaked in May, at 752 total foreclosures that month. Prior to 2020, the peak in commercial foreclosures by month in the past decade was in October 2014, with 889.