In response to the COVID-19 pandemic, SIOR has developed a Snapshot Sentiment Survey to assess the impact of the virus on SIOR members' current transactions as well as their level of confidence in local markets six months from now. So far, five of these assessments have been completed, beginning in April 2020. An overview of the results can be found below, with the full report available on the SIOR Thought Leadership page.
For August 2020, survey respondents shared the following:
- Most notably, industrial specialists are reporting 49.7% of transactions are proceeding on time, compared to 36% for their office colleagues.
- Office specialists also share a lower level of confidence in their local markets within the next six months, compared with their industrial counterparts, 5.9 for office, compared to 7.0 for the industrial side (on a 10-point scale).
- Industrial brokers in the Global, Canadian, and Mid-Atlantic regions reported the strongest market confidence. The lowest levels of confidence were reported by office brokers in the Northeast, Canadian, Northwest, and West regions.
- Looking at the differences in local market confidence between independent and large firm/ network brokers, those in large firms and networks reported notably higher confidence across the board, with the exception of higher confidence by independent brokers in the Global and Southwest regions, and equal levels in the Mid-Atlantic and Great Lakes regions.
In comparison to the July 2020 results:
- Overall, market confidence bounced back, regaining most of the dip it saw in July, increasing from 6.30 to 6.58 (on a 10-point scale).
- Regionally, the biggest gains in confidence were made by industrial brokers in the Central, Canadian, and Southwest regions. The biggest drops in confidence, while less extreme than the gains, were by industrial brokers in the Global and Great Lakes regions, and office brokers in the Northeast.
- On-schedule transactions continued their steady increases, moving from 39.2% to 45.2% with corresponding declines in client holds and cancelled projects. The industrial sector jumped 42.3% to 49.7% on time, while the office sector showed a solid increase in the last month with on-schedule transactions gaining 32.5% to 36%.
To download the full report, visit the SIOR Thought Leadership page