Research

Data from Redfin.com shows a rise of people in New York, San Francisco and Los Angeles looking to move to more affordable and less dense areas in recent months.

US life and annuity insurers now hold more than $522 billion in commercial mortgage loans, which is up significantly from $382 billion in 2015.

"Companies that create the best environments to support a hybrid workforce and fluid way of working will have a competitive advantage in recruiting when the war for talent reignites."

Banks with commercial construction loans in their portfolios took a hit as the COVID-19 pandemic forced developers to shut down or delay projects.

Buying conditions improved in the second quarter among average workers in the US, although concerns over the pandemic may have an adverse effect in the coming months.

"If it is proven that some business functions can be run successfully through remote working, tenants may decide not to house such operations in their office space once we reach the new normal."

The industrial sector is expected to weather the economic ramifications of the COVID-19 pandemic better than other areas of the economy, Colliers says.

Many tenants are also not moving into new housing during the pandemic, the report found.