Moody's: Apartment Vacancy Rate increased in Q4; Office Vacancy Rate in "Uncharted Territory" at Record High

Today, in the Calculated Risk Real Estate Newsletter: Moody's: Apartment Vacancy Rate increased in Q4; Office Vacancy Rate in "Uncharted Territory" at Record High

A brief excerpt:

From Moody’s:

The national office vacancy rate rose 40 bps to a record-breaking 19.6%, shattering the previous record of 19.3% set twice previously: once in 1986 driven by a five-year period of significant inventory expansion and the other in 1991 during the Savings and Loans Crisis. This surge represented the largest quarterly increase since Q1 2021, setting the latest office vacancy 280 bps higher than its pre-pandemic level. ...

Moody’s Analytics reported that the office vacancy rate was at 19.6% in Q4 2023, up from 18.8% in Q4 2022. This is a new record high, and above the 19.3% during the S&L crisis.

There is much more in the article.