Research

The market reported its first negative absorption since over a year ago.

Due to the coroanvrius pandemic and the recession, property price growth was stagnant last month.

The expected reduction in office demand may be offset by de-densification, another new trend.

The biggest gain in rent collections was with free standing retail, which reported a 12.1 percentage points jump from June to July.

"Consumers still seek the convenience and instant gratification that comes with the in-store experience," said Ryan Kratz, President of Colliers International's southeast region.

Rents dropped for the fourth months in a row, and major cities are losing population to secondary markets.

Residents may be amassing credit card debt in order to pay rent.

Most inventory added in Q2 since 2017, with strong absorption rates and slight increase in rents. Sales have slowed to a crawl, but Colliers sees "a conglomerate of deals" once pandemic conditions improve.