The U.S. office market is in unchartered territory. Following two years of pandemic-driven correction, signs of stabilization are emerging. However, there is considerable debate and speculation regarding the future. The office sector is facing a set of challenges that could result in significant structural shifts over the years ahead.
In this report, we examine the national context and outlook, before looking at current economic and real estate trends in 59 leading U.S. office markets, along with their outlook through year-end 2022. In addition, we establish where each market sits in the office cycle. Are local trends declining, stabilizing or showing signs of recovery?
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