U.S. Retail MarketBeat Q3 2025

U.S. retail net absorption turned marginally positive at 323,000 square feet in Q3 2025, though year-to-date absorption registered -13.1 million square feet, putting 2025 on track for the first negative-demand year since 2020. The national vacancy rate held steady at 5.8% from Q2 to Q3 despite rising 50 basis points year-over-year, while asking rents averaged $25.01 per square foot with growth slowing to 1.7% annually as consumer demand softens amid tariff impacts, muted job growth, and increased reliance on wealthy household spending.