The Office Vacancy Rate Is At A Record High

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The office vacancy rate in the U.S. has reached a record high. As of the second quarter of 2024, the national office vacancy rate hit 20.1%, the highest since at least 19791. This increase is largely attributed to the ongoing shift towards remote and hybrid work, which has significantly reduced the demand for office space.

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Sources:

www.axios.com/2024/07/09/office-vacancy-rate-record-high

moneywise.com/real-estate/american-office-vacancy-levels-hit-record-high

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