Moody's: "Apartment Market Softens, Office Evolution Continues, and Retail On Shaky Ground"

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.

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