SIOR's newest Snapshot Sentiment Report, providing feedback from hundreds of member-brokers on the performance of transactions during Q1 2021, revealed skyrocketing levels of confidence, laying the foundation for a groundswell of new business in 2021 and beyond.

With vaccinations increasing and economies opening up, deals are progressing at a rate not seen since before the pandemic. The report revealed 74% of deals are progressing on-time, more than doubling since Q2 2020. On-hold transactions have dropped to 17%, and only 9% of transactions were cancelled, the lowest number in nearly a year.

Market confidence is highest since the start of the pandemic, rising to 7.3 (out of 10). Industrial confidence is at 8, up from 6.9 in Q4 2020. Office confidence rose to 5.9 in Q1 2021, up from 4.7 in Q4 2020.

Leasing activity is now exceeding pre-pandemic levels. Positive leasing activity is a big reason for this significant boost in confidence. 62% of members reported more activity, compared with 60% in Q4 2019 and only 29% last quarter.

“If there is any doubt the commercial real estate market still has significant runway for growth, the results of this report can put that uncertainty to rest,” says SIOR CEO Robert Thornburgh, SIOR. “This is direct, on-the-ground feedback from the best brokers in the industry, from a range of markets, and they all tell the same story: deals are happening at a far greater pace than we’ve had in over a year, and the outlook ahead is the brightest we have seen since the pandemic reshaped our world.”

But the good news doesn’t end there. View more highlights from the report, along with historical average comparisons and outlooks for the coming months.