CBRE: Boston is Leader in Northeast Recovery
Northeastern metros are rebounding from the disruption of Covid-19 and no market in the region is enjoying a more broad-based recovery than Boston, which shows consistent signs of resilience and growth across five metrics, according to a new report from CBRE.
CBRE reports that greater Boston’s pandemic-proof life sciences sector was unimpeded by the economic fallout and even managing to grow headcount through 2020 and 2021. That growth contributed to a strong rebound for the larger office-using employment rate in Greater Boston and a relatively low unemployment rate when compared to other metros.
The firm expects Boston’s multifamily market to grow by nearly 15,000 units over the next two years to keep pace with the rapid growth of the professional class. That growth will account for a nearly 3% increase in inventory.