The Society of Industrial and Office REALTORS®’ Snapshot Sentiment Survey assesses the impact of the COVID-19 pandemic on North American SIOR members’ current transactions and reveals members’ level of confidence in regional markets six months from now. The most recent snapshot—the fourth consecutive survey— reveals a volatile overall market. After a steady incline for several months, market confidence dropped in July, with the office sector continuing to be the hardest-hit area.
The lowest levels of confidence were seen among office brokers in the Northeast, Northwest, and West regions, and among industrial brokers in the Central region. The Canadian, Central, and Southeast regions were the only ones to report more confidence in office than industrial. The actual number of on-schedule transactions is continuing to improve, particularly for the industrial sector, which saw 42% of transactions proceeding on time, up from 35% in June.