At Colliers, we understand the importance of interconnected data, macroeconomic trends, and anecdotes in real estate decisions. With that in mind, here are 10 numbers and trends that have recently caught our attention:

• Realtor.com reported that 19.1% of all for-sale homes had a price cut in May, driven by listings in the South and West.
• Fitch Ratings data shows that Chicago’s liabilities as a percentage of government revenue were 431.7%. Dallas (353.2%) and Jacksonville (275.1%) round out the top three.
• The Bureau of Labor Statistics noted that less precise methods were used to track inflation in April, raising concerns about data quality. May’s figure rang in at 2.4%.
• Moody’s released a paper exploring private credit and systemic financial risk. The Boston Fed estimates the private credit market grew from $46 billion in 2000 to about $1 trillion in 2023. S&P believes private credit is insulated, but not immune, from tariff risks.
• The swaps market continues to price in two Fed rate cuts in 2025, per Bloomberg.
• Headlines spotlighting U.S. debt – which now tops $1 trillion per year in interest expense – are on the rise. Despite this, Google Trends suggests that search popularity remains below levels seen in July 2011 (before S&P downgraded U.S. credit) and May 2023 (following the collapse of First Republic).
• Speaking of $1 trillion, the Fed ended 2024 with just over that amount in unrealized paper losses. Since it holds its securities to maturity, these are not realized losses.
• KKR reported a record $42 billion pipeline of commercial property financings, an all-time high.
• Business Insider reports that Anthropic’s CEO believes AI could soon replace 50% of entry-level office jobs. Meanwhile, Big Tech hiring of new graduates has dropped 50% since pre-pandemic levels.
• Private equity real estate funds brought in $57.1 billion in Q1, a 76% increase from 2024, per PERE.