The Bad PlaceUS Top News and Analysis | Office demand rebounds to highest level since Covid pandemic began
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In the first quarter of 2024, office‑space demand surged to its highest level since the pandemic began, with new in‑person and virtual tours climbing 18 % from the previous quarter and 13 % year‑over‑year, according to VTS’s Office Demand Index—a leading indicator of lease signings a year out. Despite a 2 % drop in office‑using employment, vacancy fell 14 basis points to 22.2 %, led by strong interest from tech (especially AI), finance, and legal firms. San Francisco and New York City topped the market, while Los Angeles saw double‑digit quarterly growth driven by the creative sector; weaker demand was noted in Boston, Seattle, Washington, D.C., and Chicago, where tech presence and employment growth lag. This rebound occurs amid broader economic uncertainty and the ongoing Iran conflict, highlighting a localized but notable recovery in commercial real estate.
Read more: https://www.cnbc.com/2026/04/28/office-demand-real-estate.html