Market reports and insights
Gain real estate insights that drive real impact. Our comprehensive market reports leverage the breadth of our service expertise and the deep knowledge of our people to provide you with the data-driven perspective you need to make informed decisions across your portfolio. Whether you're seeking to understand the latest office trends, identify emerging industrial opportunities, or assess the evolving capital markets, our sector-specific reports deliver the actionable intelligence that can help your business thrive. Explore our latest insights and unlock the potential of your real estate strategy.
U.S. industrial market Q4 2024 insights
The year 2024 could best be described as the epitome of “wait and see” regarding industrial demand and decision making. Investors, developers, and debt providers started the year cautiously due to decoupling of the 10-year and effective funds rates, but rates have now returned to post-election levels, making underwriting and deal making more attractive. A new space gap is anticipated in late 2025 as previously tabled decisions are implemented, with economic and trade policy factors becoming more certain after the election.
U.S. data center Q4 2024 market insights
Data center inventory in the U.S. continues to hit record highs, with commissioned colocation power expanding nearly 50% over the past 12 months. Yet, vacancy rates remain at historic lows, holding steady at just 1.6%. As demand for data center capacity accelerates, developers are exploring new strategies to overcome power generation and transmission bottlenecks—whether by expanding into emerging markets or adopting innovative solutions like on-site power generation.
U.S. multifamily market Q4 2024 insights
Multifamily demand remained strong through the fourth quarter of 2024, driving absorption rates to levels comparable to the all-time highs of 2021. Meanwhile, rents in major markets are rising again while the Sunbelt is continuing to see strong absorption levels after experiencing a surge in new development. Capital markets activity picked up in 2024, with 2024 sales volumes increasing by almost 10% since the fourth quarter of 2023.
U.S. office market Q4 2024 insights
The overall availability rate for U.S. office space stood at 23.4% at the close of the fourth quarter, marking the second consecutive quarterly decline in availability—a trend not seen since before the pandemic in Q4 2019. In 2024, U.S. office leasing activity totaled 290 million square feet (msf), falling 11.6% below the pre-COVID annual average of 328 msf (2000–2019) and 1.5% below the 294 msf recorded in 2023. Renewal lease sizes increased by 11.7% since 2019, although this growth has been inconsistent year over year, with the bulk of the increase occurring in 2024.
U.S. Capital Markets Q3 2024 insights
In the third quarter of 2024, commercial real estate debt origination saw a significant increase compared to the first half of the year, bringing the total volume to much higher levels, though still below long-term trends. Investment sales have remained subdued across sectors, but there are signs of growing interest from certain private investors, suggesting some market stabilization. A number of opportunistic funds, are preparing to take advantage of potential market improvements, with expectations of strong returns as conditions shift.
H1 2024 U.S. life sciences market overview
The lab/R&D market showed signs of revitalization during the first half of 2024 despite record-high availability and stagnant occupier demand. Most notably, funding into the life sciences sector received a large boost from venture capital investment, public markets, and the U.S. government which is expected to increase leasing activity in the second half of the year and in 2025. Moreover, construction starts for lab buildings came to a near halt, allowing the market time to absorb the newer product, which accounts for most of the lab/R&D availability.
