{"id":1087,"date":"2026-08-14T13:13:19","date_gmt":"2026-08-14T20:13:19","guid":{"rendered":"https:\/\/www.lee-associates.com\/palmdesert\/?p=1087"},"modified":"2026-08-26T13:16:06","modified_gmt":"2026-08-26T20:16:06","slug":"q2-2026-north-america-market-report","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/palmdesert\/2026\/08\/14\/q2-2026-north-america-market-report\/","title":{"rendered":"Q2 2026 North America Market Report"},"content":{"rendered":"<p class=\"x_size-12\" lang=\"x-size-12\"><strong data-olk-copy-source=\"MessageBody\">INDUSTRIAL OVERVIEW<\/strong><br \/>\nRECOVERING DEMAND IS UNEVEN AMID TRADE TENSIONS<br \/>\nDemand for North American industrial space in the second quarter continued to recover from slowing caused by heightened trade uncertainties that began early last year. But the improvement has been uneven.<br \/>\nCanada\u2019s strong year-to-date net absorption surpassed its total of the last two years. Meanwhile, modest tenant expansion in the United States remains well off pre-Covid average growth. In the U.S., 44.4 million SF of net absorption in the second quarter brought the mid-year total to 77.1 million SF, about 30% less than the pre-pandemic five-year average.\u00a0<a title=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-y\/\" href=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-y\/\" data-auth=\"NotApplicable\" data-linkindex=\"2\"><strong>READ MORE &gt;<\/strong><\/a><\/p>\n<p class=\"x_size-12\" lang=\"x-size-12\"><strong>OFFICE OVERVIEW<\/strong><br \/>\nHEALTHY GROWTH IN STRONGEST MARKET SINCE COVID<br \/>\nThe North American office market is having its best year since the Covid lockdown, punctuated by vacancy declines in the second quarter across Canada and the United States for the first time since 2019. Tenant growth has returned and institutional investors are showing greater confidence in premium assets. Also, with little new space being built and more obsolete office properties being redeveloped, total inventories in the U.S. and Canada declined together for the first time on record.\u00a0<a title=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-j\/\" href=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-j\/\" data-auth=\"NotApplicable\" data-linkindex=\"3\"><strong>READ MORE &gt;<\/strong><\/a><\/p>\n<p class=\"x_size-12\" lang=\"x-size-12\"><strong>RETAIL\u00a0<\/strong><strong>OVERVIEW<\/strong><br \/>\nSTRONG DEMAND, LOW VACANCIES; PROPERTY SALES SURGE<br \/>\nNorth American retail property markets continued to show resilience in the second quarter that is generally well-supported by solid operating fundamentals and limited new supply. Although rent growth has been moderating, investors have been active with property sales running more than 30% ahead of last year.\u00a0<a title=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-t\/\" href=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-t\/\" data-auth=\"NotApplicable\" data-linkindex=\"4\"><strong>READ MORE &gt;<\/strong><\/a><\/p>\n<p class=\"x_size-12\" lang=\"x-size-12\"><strong>MULTIFAMILY OVERVIEW<\/strong><br \/>\nVACANCY DIPS ON Q2 DEMAND; FLAT AND FALLING RENTS<br \/>\nApartment vacancy fell across North America in the second quarter as the United States and Canada reported demand from tenants taking advantage of little to no rent growth. After a modest Q1 gain with net rentals up by 76,145 units in the U.S., stepped-up second-quarter demand produced a mid-year total of 255,162. Coupled with fewer deliveries, the rebalanced inventory of 20.9 million units brought the vacancy rate down 30 basis points to settle at 8.2%. Seventy-eight percent of units rented were premium apartments.\u00a0<a title=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-i\/\" href=\"https:\/\/leeassociates.cmail20.com\/t\/j-l-ydukttlk-jkyhhrdix-i\/\" data-auth=\"NotApplicable\" data-linkindex=\"5\"><strong>READ MORE &gt;<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>INDUSTRIAL OVERVIEW RECOVERING DEMAND IS UNEVEN AMID TRADE TENSIONS Demand for North American industrial space in the second quarter continued&#8230;<span class=\"readmore\"><a class=\"moretag\" href=\"https:\/\/www.lee-associates.com\/palmdesert\/2026\/08\/14\/q2-2026-north-america-market-report\/\">+<\/a><\/span><\/p>\n","protected":false},"author":46,"featured_media":832,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,5,3],"tags":[137,53,41,136,139,135,43,138],"class_list":["post-1087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-market-reports","category-news","tag-137","tag-commercial-real-estate","tag-industrial","tag-market-report","tag-multifamily","tag-north-america","tag-office","tag-q2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Q2 2026 North America Market Report - Palm Desert | Lee &amp; 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