CRE Market Snapshot

SIOR Snapshot Quarterly Report

First Quarter 2021 Report

Download the most recent SIOR Snapshot Sentiment Report (PDF)

At the conclusion of the first quarter in 2021, SIOR members reported on the state of the market and industry. With vaccinations increasing and economies opening up, demand is high and deals are progressing at a rate unseen since before the COVID19 pandemic. Leasing activity has surpassed pre-pandemic levels, and development has exceeded conditions reported one year ago. Overall, things are looking up for the start of the year. Below are summary highlights from SIOR’s report on the current state of the industry.

  • 74% of transactions are progressing on schedule, more than doubling since Q2 2020
  • On-hold transactions have dropped 83% since last spring to just 17%
  • Only 9% of transactions were cancelled, the lowest number in nearly a year
  • Market confidence is highest since the start of the pandemic, rising to 7.3 (out of 10)
  • Industrial sector confidence reached its highest-ever number at 8, a big jump from 6.9 in the previous quarter
  • Office confidence rose to 5.9 in Q1 2021, up from 4.7 in Q4 2020
  • Leasing activity has surpassed pre-pandemic levels, with 62% of SIORs reporting more leasing, compared to 29% last quarter

The following data can also now be found in the Snapshot Sentiment Report:

  • Leasing Activity
  • Asking Rents
  • Vacancy Conditions
  • Subleasing Space
  • Development Conditions
  • Site Acquisition Conditions
  • Tenant Concessions
  • Investment Pricing Conditions

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PREVIOUS SIOR SENTIMENT REPORTS

Download previous sentiment reports (PDF).

SEPTEMBER 2020 REPORT

AUGUST 2020 REPORT

JULY 2020 REPORT

JUNE 2020 REPORT

MAY 2020 REPORT

APRIL 2020 REPORT