The article from Wolfstreet analyzes the ongoing trends in working from home (WFH) and return to office (RTO) mandates within the commercial real estate sector, suggesting that expectations of a significant shift back to office work are overblown. Despite some media hype surrounding companies enforcing RTO policies, data shows that office attendance has not improved notably since early 2023, remaining at around 54% of pre-pandemic levels in top markets. Furthermore, the data indicates that a substantial percentage of full paid days worked from home has stabilized at significantly higher levels than before the pandemic, particularly among industries with more flexible employment structures. Consequently, the expectation that RTO will revitalize office space demand seems premature.

Key Points:

• Office Attendance: Remains low at about 54% of pre-COVID levels as of early 2023.
• Media Hype vs. Reality: Media coverage often exaggerates the effects of RTO policies, while actual attendance data shows little change.
• WFH Trends: The share of full paid days worked from home remains significantly higher than pre-pandemic levels, with approximately 29% of days worked from home as of January 2025.
• Hybrid Work Models: Many companies have adopted hybrid work arrangements instead of requiring full RTO, leading to continued high levels of remote work.
• Industry Variations: Significant variations exist across industries, with tech and finance seeing substantial hybrid and remote work adoption.
  Link to Article