Office vacancy rates, which rose from under 8% in early 2020 to a peak of 14.9% in mid-2025 due to the pandemic, are now declining as return-to-office mandates increase. Average in-office days have risen from 2.5 to 3.5 days per week. Top-tier office buildings are expected to recover by 2027, with mid- and low-tier buildings following by 2029. Tenant demand is shifting from downsizing to stabilizing or increasing space, signaling market recovery.