This year was supposed to have set a record in real estate construction, particularly in the apartment sector, until the onslaught of COVID-19 stalled construction projects as the economy shut down, according to Moody's Analytics.
But while a number of developments have stalled, and some have been canceled, many not-yet-completed real estate construction projects will still go forward, although likely at a slower pace than during the Great Recession, senior economist Thomas LaSalvia predicted in a new report by Moody's Real Estate Solutions.
"We do expect this decline to increase in pace and ferocity over the next two quarters, with regional centers feeling more of the pain than neighborhood and community shopping centers," he said.
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R. Robin McDonald
Daily Report reporter R. Robin McDonald's journalism career includes stints as a staff writer at The Atlanta Journal-Constitution, The Fort Worth Star-Telegram, The Wichita Eagle, and The Anniston Star and as a trial tracker at CourtTV and CNN. She is the author of two true crime books -- Black Widow: The True Story of the Hilley Poisonings and Secrets Never Lie: The Death of Sara Tokars.
