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North American office markets take different paths after emerging from under pandemic cloud

While office markets are finally recovering, Canada appears to be lagging its US counterpart, especially in transactions
Buildings in the northwest corner of Bay and Elm streets in Toronto. (Getty Images)
Buildings in the northwest corner of Bay and Elm streets in Toronto. (Getty Images)
CoStar Analytics
March 2, 2025 | 11:02 P.M.

As we approach the fifth anniversary of the COVID-19 shutdown, it is worth assessing how North American office markets have since evolved. While Canada and the U.S. saw an appreciable increase in office availability following the pandemic, the relative increases have been worse in this country.

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