While COVID-19 continues to negatively impact many corners of commercial real estate, affordable housing appears largely untouched by the pandemic, according to a new report.
In the second quarter of this year, the affordable housing sector's national vacancy rate fell by 10 basis points to 2.4%, according to a new report from Moody's Analytics' REIS subsidiary. Further, the sector experienced inventory growth of 0.5%.
The completions figure of approximately 5,700 units was lower than the quarterly average of nearly 7,900 units over the past year—this was the lowest since the third quarter of 2016, according to the report, which was authored by economist Mary Le.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
