Leasing rebounded 18% QoQ in Q1’26, though remained 6% below Q1’25 levels. Rent continued its slide, falling 3-cents QoQ and 7% YoY as construction recedes. Persistent rent softening points to a market still working through oversupply, with leasing demand offering signs of stabilization.

SALES TRENDS

Sales volume edged up 6% QoQ in Q1’26, while average sale pricing surged up 50% from Q4’25. Steady volume alongside a sharp pricing jump suggests a flight to quality, with higher-value assets driving sales activity heading into 2026.