Office Vacancies Near 20% in Fresh High, Moody’s Says

-- US office vacancies hit a fresh peak in the first quarter as needs continue to evolve with hybrid work setups.Trump Got His $175 Million Bond From a Billionaire Fan’s CompanyVacancies rose to a record 19.8%, Moody’s Analytics said in a preliminary report Monday, from 19.6% in the prior quarter. Despite the increase, the firm said that the early data points to a stable quarter for commercial real estate.

The evolution of offices is similar to what’s happened with malls, where some thrive while others fail. Winners and losers will be determined by proximity to mixed-use neighborhoods and public parks instead of the typical office block, according to LaSalvia. Other sectors such as multifamily are seeing some positive signals as excess supply is finally being digested after six straight quarters of gains, with a peak at the end of 2023, according to Moody’s.

-- US crude futures pierced $85 for the first time since October, the latest milestone in a rally driven by OPEC+ production cuts, strong demand and heightened geopolitical risks.

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