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CRE Market Confidence Soars in First Quarter 2021 SIOR Snapshot Sentiment Report

Market Trends & Analysis

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.

View Full Report



The Society of Industrial and Office Realtors® (SIOR) represents the world’s elite in industrial and office brokerage. SIORs are held to the highest standard by completing thorough requirements and adhering to the SIOR Code of Ethics. SIOR is more than a designation, it’s a symbol of excellence. It’s a reflection of a global network of 3,600 industry leaders driven by camaraderie and innovation. SIORs value the power that comes with building relationships and sharing ideas that are on the leading edge of the industry. They are the most trusted resource in commercial real estate. For more information, visit