Today, in the Calculated Risk Real Estate Newsletter: Moody’s: “Apartment Market Softens, Office Evolution Continues, and Retail On Shaky Ground”
A brief excerpt:
From Moody’s:
The national office vacancy rate climbed to 19.2% in Q3 2023, rising from Q2’s 18.9% and rapidly approaching the historic peak of 19.3% set in 1991. The office landscape has struggled in 2023, though market performance is more mixed with property-specific nuances. With rising vacancies, the national office market experienced another quarter of relatively stagnant rent growth. …
Moody’s Analytics reported that the office vacancy rate was at 19.2% in Q3 2023, up from 18.9% in Q2 2023, and up from 18.5% in Q3 2022. This is just below the record high of 19.3% during the S&L crisis.
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/