The Society of Industrial andOffice Realtors has just released its June survey examining theeffects of the COVID-19 pandemic on its North American members'current transactions and level of confidence in regional markets.And while SIOR found that office real estate brokers are continuingto face challenges, the industrial sector is gaining strength asthe pandemic persists.
The June survey is the thirdmonthly survey from the professional organization, which in Aprilbegan to examine COVID-19′s effect on markets. June's surveyrepresents the highest confidence level for the office andindustrial markets combined, with an increase from 6.22 to 6.61since May.
This confidence did vary byregion and market, however. SIOR members in the Global regionreported shifts in both directions, with industrial confidenceincreasing 6.3 to 7.3 and office confidence dropping 6.8 to 5.9.The Central region, however, saw decreases to industrialconfidence, dropping from 6.1 to 5.21 over the past month. TheNortheast saw the greatest increase for the office sector of anyregion, jumping from 5.5 to 6.6 region.
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Zach Warren
Zach Warren is the editor-in-chief of Legaltech News. Based out of Minneapolis, Minnesota, Zach has been with LTN since 2015. He can be reached at [email protected].
