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Market metrics hold steady in the face of future economic uncertainty
This second quarter exhibited signs of stability that signaled cautious optimism across the market. Overall average asking rates remained nearly level from last quarter while availability gradually decreased from the highs witnessed last year. Leasing activity also rose slightly with a focus on many smaller suburban office tenants making moves this quarter. As Alberta demonstrated strong employment statistics along with the hope of slowing interest rate hikes, the Calgary office market appeared on more solid footing amidst future uncertainty.