Office market stabilizing after years of remote work volatility

Offices nationwide were left empty when COVID-19 spread like wildfire and forced companies to send their workers home.The office downsizing that followed the pandemic hasn’t stopped, but it has slowed.

Morin said they’re seeing more deals getting done than they saw even before the pandemic, but the deals are often smaller because of hybrid work.Leasing activity has accelerated and exceeded its five-year average for the past two quarters, according to CBRE.said they may soon grow their office portfolios, up from only 20% of respondents in the previous year’s survey.

About a third of those organizations expect office utilization to increase, driven mostly by larger companies mandating regular in-person attendance.

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