SIOR Snapshot Sentiment Report
First Quarter 2021 Report
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 not seen since before the 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:
Detailed, historical data reflecting our Commercial Real Estate Index (CREI) questions can be found in the CREI articles within the SIOR Report magazine.
- Leasing Activity
- Asking Rents
- Vacancy Conditions
- Subleasing Space
- Development Conditions
- Site Acquisition Conditions
- Tenant Concessions
- Investment Pricing Conditions
PREVIOUS SENTIMENT REPORTS
Download previous sentiment reports (PDF).