According to Placer.ai Nationwide Office Building Index, buildings in the study received 36.5% fewer visits in December 2023 than in December 2019. This reflects the same general holding pattern which has foot traffic hovering at approximately 40% of pre-COVID levels.
However, amidst this data there are some apparent regional differences. New York City emerged as December's winner in office recovery. The city saw a year-over-four-year visit gap of just 19.2%. This was the smallest gap seen by New York City in quite a while. Yet, San Francisco saw a year-over-four-year gap of 53.1%, placing the city at the other end of the spectrum in terms of recovery.
The report indicates the month of December is a bit of an anomaly when it comes to analyzing foot traffic and office attendance in general. A key factor is the holiday season, which is often marked by employee time off.
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