VTS office demand index

Real estate technology firm VTS has released its monthly office space demand report with data for the month of March. Nationally, demand for office space rose by 20%. All of the major cities it tracks saw an increase, with one exception.

That exception: Seattle. Here office space demand dropped 31%, down to 48% of pre-pandemic levels.

According to VTS, that is well outside of seasonal norms.

VTS attributes this to Seattle’s preponderance of remote-friendly jobs.

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