Commercial Real Estate International Business Trends: February 2022

Market Report provided by NAR

The year 2021 was a remarkable year for the commercial real estate market because it bucked expectations of a prolonged downturn. While the office property market had a huge loss in office occupancy of about 143 million square feet from 2020 Q2 through December 2021, absorption increased in the multifamily, industrial, and retail trade sectors. Since the pandemic, about 1 million more rental apartment units have been absorbed through December 2021. In the industrial property market, nearly 700 million square feet was absorbed since 2020 Q2 through