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Demand for office space edged down a bit in July with the emergence of the delta variant.
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To the extent that demand for office space has recovered in the U.S., it has been heavily concentrated in the newest, most expensive buildings.
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Tours of office space have increased dramatically in frequency over the past month, but it may still take some time before that translates to leasing activity.
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For the first time since office demand hit its pandemic nadir, new demand declined month-over-month in September, according to data from VTS.
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Demand for office has risen a bit so far in 2022, but it is still down from last summer.
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Occupancy levels are on the rise, but lag pre-omicron levels.
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Demand for office space is slumping in NYC, even as lease signings hit their highest levels since the pandemic began.
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April usually sees a spike in demand for office, but not this year.
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Inflation, job challenges and recessionary changes to the economy have pushed commercial real estate firms to seek money-saving proptech tools.
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Demand remains at roughly two-thirds of pre-pandemic levels in U.S. office markets, according to VTS, but two major markets have swung in opposite directions.
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