by Calculated Risk July 5, 2024, 10:52 AM
Today’s Calculated Risk Real Estate Newsletter: Moody’s: Apartment vacancy rate unchanged in Q2, office vacancy rate hits record high
Short excerpt:
From Moody’s:
The office sector vacancy rate hit a record high of 20.1%, breaking the 20% barrier for the first time in history. Vacancy rates have been steadily rising as the slow hemorrhage in the office sector and permanent changes in work behavior have outlasted the first wave of the pandemic four years ago. The record vacancy rate in the second quarter was 20.1%, up from 19.8% in the previous quarter and marking the third consecutive quarter that has surpassed the previous all-time high of 19.3% set in 1986 and 1991.
Moody’s Analytics reported that office vacancy rates will be 20.1% in the second quarter of 2024, up from 19.8% in the first quarter of 2024. This is a new record, surpassing the 19.3% rate during the S&L crisis..
There’s a lot more in the article.
