CRE Market Snapshot

SIOR Snapshot Sentiment Report

Second Quarter 2021 Report

Download the most recent SIOR Snapshot Sentiment Report (PDF)

As summertime emerges, so have businesses and economies, report SIOR members in the second quarter SIOR Snapshot Report. SIORS say commercial real estate (CRE) is rebounding at a record pace, with the office sector finally making its comeback.
Market confidence grew to its highest on record, at 7.6 (out of 10).

  • The largest increase was seen in the office sector, rising from 5.9 in Q1 to 6.7 in Q2.
  • Industrial confidence remained steady at 8.0.

On-schedule deals have also reached their highest levels in a year, with office being the primary growth factor.

  • 79% of transactions are on schedule, a nearly 150% increase since Q2 2020 (32%).
  • 77% of office transactions are on schedule, a 175% increase from a year ago when only 28% were progressing.
  • On-time industrial transactions slightly dipped but remained strong at 80% in Q2.

Overall leasing activity rose to its highest level in more than five years, with 72% of SIORs reporting more leasing. This was a 16% increase from Q1 (62%).

  • Office brokers accounted for the main increase, with 68% reporting higher leasing activity, up from 38% in Q1.
  • Industrial office leasing saw little change with 74% still noting higher activity.

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).

First Quarter 2021 REPORT

Fourth Quarter 2020 REPORT

SEPTEMBER 2020 REPORT

AUGUST 2020 REPORT

JULY 2020 REPORT

JUNE 2020 REPORT

MAY 2020 REPORT

APRIL 2020 REPORT