Office Visits Remain in Holding Pattern

According to Placer.ai Nationwide Office Building Index, buildings in the study received 36.5% fewer visits in December 2023 than in December 2019. This reflects the same general holding pattern which has foot traffic hovering at approximately 40% of pre-COVID levels.

However, amidst this data there are some apparent regional differences. New York City emerged as December’s winner in office recovery. The city saw a year-over-four-year visit gap of just 19.2%. This was the smallest gap seen by New York City in quite a while. Yet, San Francisco saw a year-over-four-year gap of 53.1%, placing the city at the other end of the spectrum in terms of recovery.