Market News

Apartment occupancy among the nation's 50 largest metro areas stayed steady in May month-to-month, at 95.7%, but is up 90 basis points year-to-date. And while all of those markets posted annual growth in occupancy, 40% were down on a monthly basis.

The number of property demolitions and the pace of office conversions into residential buildings are accelerating. Developers, meanwhile, have greatly slowed new office construction because of questions about future tenant demand. As a result, the amount of office supply in the U.S. is on pace this year to contract for the first time in a quarter of a century.

The Yale endowment plans to offload about $2.5 billion of private equity stakes. Secondhand buyers had considered valuing pieces of the portfolio at a 15% haircut, though the overall discount is expected to be less than 10%.

US trade deficit fell to $61.6B in April, the lowest since Sept. 2023. Imports fell 16%, with consumer goods down 32%, driven by a $26B drop in pharmaceutical products. Exports rose 3% to a record $289.4B, possibly due to countries buying before retaliatory measures.

Luxury hotels inside airports are having a moment. Affluent vacationers and business travelers are splurging before or after a flight in the same way they are paying up for cushier plane seats with more perks.

Private-equity firms are sitting on a record 29,000 companies worth $3.6 trillion, half of which they have owned for five years or more

Pending sales in the luxury segment of the housing market have fallen to their lowest level nationally in more than a decade. Luxury housing prices were up 6.5% year over year as of April, and pending sales were down about 10%, that's about three times the decline of pending sales observed within the non-luxury housing market.

Mandated return-to-office levels are at their highest point in the last three years, with 56% of human-resources leaders saying their companies had such policies now in place. The percentage of organizations without a mandated policy dropped from 12% in 2023 to just 5% this year.

United and JetBlue are partnering, expanding JetBlue’s reach and allowing United to resume JFK flights.

Honeywell International HON 2.00%increase; green up pointing triangle is adding an executive from activist investor Elliott Investment Management to its board ahead of the industrial conglomerate’s split into three companies.