Moody`s: U.S. Office Vacancy Hits Another Record High

Office vacancy in the U.S. hit a record high last quarter for the sixth time in a row, according to a Moody’s Analytics report released Wednesday. 

All commercial real estate sectors are experiencing weakness, the second-quarter report says, as “macroeconomic uncertainty dampened household and business confidence.” But the weakness in the office sector was particularly acute.

Moody’s reported nationwide office vacancy at 20.6% last quarter, up from 17% five years ago, at the start of the pandemic. Last quarter`s new high was a 20-basis-point jump from the first quarter and a 50 bps increase year-over-year.

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RSK: Some areas are bright spots so I would take this with a grain of salt.....or a sip of beer or wine