Real Estate
Office Vacancy Rate Nears 20% to Set Fresh Record, Moody’s Says
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US office vacancies hit a fresh peak in the first quarter as needs continue to evolve with hybrid work setups.
Vacancies rose to a record 19.8%, Moody’s Analytics said in a preliminary report Monday, from 19.6% in the fourth quarter of 2023. Despite the increase, the firm said that the early data points to a stable quarter for commercial real estate.