Amidst a Cooling Job Market, Office Demand Holds Steady in September

Amidst a Cooling Job Market, Office Demand Holds Steady in September

Taline Loschiavo

Taline Loschiavo

Articles Promoting Manager, VTS

New demand from customers for office environment room greater a little bit in September immediately after 3 consecutive months of losses, according to the newest VTS Place of work Desire Index (VODI) investigation. 

The nationwide VODI grew by two VODI points, from 46 in August to 48 in September. A VODI of 50 or under signifies the circulation of new tenants searching for office place is running at fewer than 50 % of its pre-pandemic rate in 2018 and 2019.

Nationally, need for place of work house elevated 4 p.c month-above-month in September even with slight seasonal headwinds. In advance of the pandemic, demand for workplace place normally declined in September, slipping 3.1 percent in September 2018 and 1.1 p.c in September 2019. Despite the slight maximize in need in September, the VODI has generally been trending downward in modern months amid growing fascination costs and a cooling labor marketplace.

What is the VTS Workplace Demand Index (VODI)?

The VODI is the earliest readily available indicator of forthcoming business office true estate tendencies, regionally and nationally, and signifies up to 99% of new desire for business office room in 7 big marketplaces, including New York Metropolis, Washington DC, Los Angeles, Chicago, Boston, Seattle, and San Francisco. The VODI tracks tenant excursions, the two in-man or woman and digital, of workplace attributes across the country and is the only professional true estate index to monitor tenant desire.

The VTS Workplace Demand Index is run by proprietary VTS Data, composed of aggregated and anonymized professional genuine estate knowledge from the 12B+ sq. feet of property managed on the VTS system.

Get today’s industrial genuine estate industry developments in the newest VODI report:

  • Find out how seasonal headwinds impacted the VODI in September.
  • Find out which sectors professional a decrease in new career postings as the labor market exhibits larger symptoms of cooling.
  • Discover which markets rebounded in September and which marketplaces ongoing to falter.

Download the full VTS Workplace Desire Index Oct 2022 report for in-depth insights into demand restoration and in depth methodology.

Want to learn how to use the knowledge in the VODI? The VTS Office Need Index is just a sliver of the insights obtainable to you. VTS Knowledge is your aggressive edge in today’s market. Master how to reinvent your financial investment system employing lively anonymized facts from the $200B in leasing transactions. Benchmark your effectiveness versus the sector and continue to be competitive in an at any time-altering industry. Making use of data, only available on VTS, solve concerns about supply and demand, leasing performance, and tenant exposure to unlock – and unblock – promotions. Understand additional about VTS Details here. 

Eager to find out additional about how the pandemic has and will carry on to effects long-time period market dynamics of the place of work sector, specifically as numerous companies keep on to undertake hybrid and perform-from-property types? Check out the latest knowledge from the VTS Eco-friendly Shoots Report right here. 

Read the official press release here. 

Taline Loschiavo

Articles Internet marketing Manager |


Taline Loschiavo

Taline is a Content material Advertising Supervisor at VTS.

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