Across the U.S. markets 12,458 deals totaling $182.4 billion transacted in the first half of 2025 — a 15.2% increase in dollar volume and a 25.2% rise in transaction count compared to the first half of 2024. Multifamily and industrial deals made up the bulk of transactions completed in the first half of this year, accounting for 35.4% and 28.4% of dollar volume, respectively.
All-Inclusive Resorts
Hyatt, Marriott and other hotel chains are upgrading pay-one-price resorts to lure affluent travelers.
BNPL
Buy-Now-Pay-Later use is expected to account for about $100 billion in transactions this year.
Hedge Fund Performance
Trend-following hedge funds lost 9.6% in the first half of this year, on track for their worst annual performance since at least 1998. Meanwhile, hedge funds more broadly returned 4%, net of fees, while the S&P 500 delivered 6.2% to investors, including dividends.
Cut Probability
Markets are pricing in a 64% probability of a 25bp cut in September and expect approximately 100 bps of cuts over the next year. Meanwhile, the 10-year U.S. Treasury yield is trading at 4.33%, near the lower end of its year-to-date range.
Condominiums
The months of supply for condos, which indicates how long it would take to sell the existing inventory at the present sales rate, is near a 10-year high, said Asad Khan, senior economist at Redfin. Besides a momentary peak at the start of the Covid-19 pandemic, it hasn’t been so high since the early 2010s.
Corporate Leadership
In the Russell 3000, 41.5% of chief executives are at least 60 years old, up from 35.1% in 2017. Over the same period, the share of CEOs in their 30s and 40s has grown to 15.1% from 13.8%. People in their 50s held 51.1% of CEO seats eight years ago and now occupy 43.4%.
UNP NSC
The $85 billion merger deal between Union Pacific and Norfolk Southern joins 50,000 miles of railroad tracks that span from the Jersey shore to the ports in California. The union would create a single company controlling coast-to-coast rail shipments for the first time in U.S. history.
Home Investors
So far in 2025, investors who buy homes to flip or rent out have made up about 30% of purchases of both existing and newly built single-family homes, the highest share on record. Small investors made up about 25% of these home purchases while large investors accounted for only about 5%.
Airbnb Experiences
Airbnb is making a renewed push into what it calls Experiences and Services—its second attempt after a 2016 effort failed to gain traction.