What demand trends have you been seeing over the past few months?

[Leona Du]

If something is sure in this uncertain market, it's that 2025 has been a more active year. And with activity, the demand for alternative financing has also been growing. For example, so far this year at Duckfund we've seen a 5.2% increase in EMD financing requests.

But where is demand concentrated?

→ Hot assets: Multifamily and industrial are leading the way, but office is surprisingly regaining investor interest as the sector reinvents itself. Single-family homes for short-term rentals and fix-and-flips follow, accounting for a fair share of activity.

→ Top markets: Requests are strongest in Texas (10.8%), New York (9.6%), Florida (9.6%), Georgia (4.8%) and Arizona (4.8%)

→ Buyer profile: Mid-market investors working on $15M-$100M deals, with deposits ranging from $100K to $500K and with an average due diligence period of 90 days. I’m also seeing strong EMD financing demand from wholesalers, who benefit from not putting their own money down to secure the deal.

We’ll see what the rest of the year brings, but I’m keeping my eyes open to see which trends end up defining 2025 and setting the stage for 2026.

Which markets or asset classes are you seeing the strongest demand in right now?