Apartment demand turned negative last quarter, the first Q3 in at least 30 years that such a phenomenon occurred. Net demand was -82,095 units in Q3 among the markets tracked, bringing year-to-date net demand to -47,143 units.

The once-hot real estate market is swiftly slowing down, with mortgage rates for a 30-year fixed loan over 6% — up from 3.29% at the start of the year.

U.S. retail vacancy fell to 6.1% in the second quarter, the lowest level in at least 15 years, while asking rents for U.S. shopping centers in the quarter were 16% higher than five years ago.

August apartment asking rents nationally fell 0.1% from July, the first monthly decline in rent since December 2020.

For the three months ending Aug. 31, sales of luxury U.S. homes dropped 28.1%, from the same period last year. That marks the biggest decline since records began, and eclipses even the 23.2% decrease recorded during the onslaught of the pandemic in 2020.

Workers are returning to U.S. offices at the highest rate since the pandemic forced most workplaces to temporarily close in 2020. Office use on average was 47.5% of early 2020 levels for workers in the office over the five business days from Sept. 8 to Sept. 14 in the 10 major metros.

Adam Neumann recieved a $1 billion exit package in cash and loans when he left WeWork. He is now launching a residential apartment brand called Flow.

An analysis of U.S. Census and Internal Revenue Service data found that in many metro areas, migration patterns led to a net loss for the city centers, often as people relocated to the suburbs. These patterns could prompt concern of a doughnut effect in which city centers are hollowed out as migration and housing demand shift to suburban counties.

Nontraded real-estate investment trusts, one of the few ways for individuals to get direct exposure to office towers, warehouses, hotels and other commercial properties, raised a record $36.4 billion last year and are on track to nearly match that level this year.

In the second quarter, the U.S. downtown office vacancy rate surpassed the suburban vacancy rate for the first time in decades. Vacancies fell slightly to 16.8% in the suburbs and rose to 17% in city centers.