by Calculated Risk on 7/07/2024 08:21:00 AM

Note: I covered apartments and offices in the newsletter: Moody’s: Apartment Vacancy Rate Unchanged in Q2; Office Vacancy Rate at New Record High

From Moody’s Analytics economists: Apartment Demand Slowly Catching Up, Office Stress Continued to Manifest, Retail Resilient Despite Bankruptcies, And Industrial Cools Down

The Q2 2024 data maintained its familiar trend with the retail vacancy rate holding steady at 10.4%. Both asking and effective rents experienced a marginal increase of 0.2% to $21.79 and $19.07 per square foot respectively. The second quarter consumer spending fell short of expectations: after a 0.2% decline in April, retail sales in May were only up by 0.1%, not meeting the anticipated 0.3% increase. As low-income consumers continued to feel the pinch, those in the middle are now encountering financial challenges while high earners pulled back on luxury item purchases. However, spending has not ground to a

Keep reading this article on Bill McBride - Calculedriskblog.

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