Retail`s Been Resilient In 2025. `Relentless` Instability Threatens The Holiday Party

Retail real estate has been on a roll. Investment sales are up significantly, distress is falling, the leasing market is still competitive, and a limited amount of new construction is buoying long-term fundamentals. 

But the industry is battling fierce macroeconomic headwinds, from on-again, off-again tariffs to waning consumer sentiment and an increasingly shaky job market. 

This holiday season is poised to clarify a landscape mired in uncertainty and define which of the competing headwinds and tailwinds ultimately wins the day. 

   ...more

RSK: This holiday season should be okay for retail but after that things are up in the air. Tariffs and other factors loom large. So far, retailers have been absorbing most of the price increases but that may end in 2026.