By some measures, the office sector seems to have improved some, according to a new report from Colliers. However, questions remain, and arise, about where the market might be headed

Last year closed out with some positive news, according to Colliers. For example, the Q1 2022 office vacancy rate stands at 14.8%, down from 14.9% in the fourth quarter of 2021. The amount of sublease space has fallen to 199.7 million square feet, from 208.8 million square feet in 2021's second quarter. Net absorption was up nationally at the end of 2021 to nine million square feet, versus 3.2 million square feet in the third quarter of 2021. "This represents a significant turnaround from the cumulative 153 million square feet of negative absorption seen between Q2 2020 and Q2 2021," said the report.

Which is all well and good. However, understanding business conditions also means considering the less pleasant information and reading around the happier data.