City-by-City Remote Trends Continue to Affect Office Vacancy Rates

CommercialEdge, Santa Barbara, Calif., reported that due to a variance in remote and hybrid work, some cities’ office markets remain more vulnerable than others, affecting metrics such as vacancy rates, rental prices, sales and pipelines.

MBA Chart of the Week Nov. 18, 2022: Return to Office Rates

This week’s Chart of the Week highlights data from Kastle Systems for November 3-9, showing the range of daily occupancy rates for 10 major metros. For these metros, the lowest average occupancy rate for a particular day of the week was 32.2 percent, and the highest was 56.0 percent, compared to essentially 100 percent occupancy pre-pandemic for most days.

Office Sector’s Future Up for Debate

Colliers International, Toronto, said the U.S. office market is stabilizing following two-plus years of pandemic-driven correction, but noted “considerable debate and speculation” about its future.

MBA White Paper: Office Market ‘Likely Changed Forever’

The ongoing tug of war between employers and employees about returning to the office will accelerate as pandemic-related impacts fade, according to a new Mortgage Bankers Association white paper.

Bright Spots Amid Offices Sectors Struggles

Office absorption remains negative even though office-using employment increased by 1.9% in the first half of the year, adding 635,000 jobs, reported Cushman & Wakefield, Chicago.

Return to Office? Still a Work in Progress

Despite growing sentiment among companies, politicians and even cabin fever-infected workers to return to post-covid operations, reports show returning to the office is still a long way from normal.

Office Sector Sees Uncertainty

Office usage is slowly growing as the pandemic fades, but analysts have many questions about the sector’s future.

Employers Pause Return-to-Office Plans

Employers are pausing their return to office plans in light of the Delta and Omicron COVID variants, said Yardi CommercialEdge, Santa Barbara, Calif.