🏡 Vacation rentals outpace hotels by a mile in Q2
🏭 Industrial supply glut is redefining the sector
🌊 Long Island sees biggest coworking growth in U.S.
📚 September courses & workshops announced!

Data Viz of the Week: A Buyer’s Market

There are more than half a million more buyers than sellers actively in the US housing market right now—the highest disparity in more than a decade.

The impact of high rates and sticky home prices are coming home to roost; the number of buyers in the market has been on a steady decline since late 2021. Of course, it’s hard to take too much from national data—some markets (e.g., the Northeast and Midwest) are still doing well while others (e.g., Florida) sag.

Upcoming Thesis Driven Courses & Classes

• August 18: Fundamentals of Capital Raising (💻 Online): An insider’s guide to raising capital for real estate projects from individuals, family offices and institutional investors - Sign up

• September 1: Selling Into Real Estate Owners (💻 Online): A bootcamp for people selling technology and products into the real estate industry - Sign up

• ​September 3-4: Workshop: Raising Capital from Family Offices (💻 Online): A two-day interactive workshop for real estate sponsors, entrepreneurs & capital raisers looking to raise capital from family offices - Sign up

• September 10-11: Workshop: AI in Real Estate (💻 Online): A two-day interactive workshop for real estate owners, operators, and developers exploring how to use AI in the sector - Sign up

Three Articles We Loved from Last Week

It’s not easy keeping up with everything. Here are three articles we loved from the past week that you may have missed:

1. (Skift) Short-term vacation rentals outperform U.S. hotels in Q2

   In May 2025, the vacation rental market saw a 12% year-over-year spike, vastly outperforming hotels, which grew a modest 2%. The data reveals that short-term rentals are dramatically reshaping travel real estate dynamics.

2. (CRE Daily) Industrial Vacancy Hits Highest Level Since 2013 as Supply Surges

   In Q2 2025, the U.S. industrial vacancy rate jumped to 7.3%, the highest level since 2013. This surge comes as a wave of deliveries—71.3 million square feet—outpaced net absorption, which totaled just 23.2 million square feet. Although demand remained positive, it’s now falling short, which, combined with a construction slowdown (281M SF under way, down 60% from the 2022 peak), could begin to re-balance the market later this year.

3. (Long Island Business News) Long Island sees biggest coworking space growth in U.S.

   In Q2 2025, Long Island posted an 11% increase in coworking square footage—making it the top U.S. market for flexible-office expansion, even as overall demand cools elsewhere.

Developer of the Week: Northwood Ravin

Atlanta’s next placemaking development is set to come online early next year.

Charlotte-based Northwood Ravin has topped out their newest Atlanta project, Halo East Decatur. Along with 370 apartments, the project includes artists’ studios, a new 1-acre green space, a neighborhood market, and a long list of resident amenities.

You can read more about Northwood Ravin on the Thesis Driven GP database here.

Know about a developer doing something cool? Reach out to [email protected] with the tip!

—Brad and Paul