2018 National Office Absorption

Year-over-year office market conditions compared nationally and by region cycling, updated quarterly.
Source: CoStar Group Inc.

Net absorptions decreased for office markets in every region in the first quarter of 2018, compared to the same period in 2017, the most notable decline coming from the Midwest by 54.9 percent, followed by the Northeast (down by 39.5 percent). The most minor change came from the West, with only a 7.2 percent decrease year-over-year. Office net absorptions inched down by 32.9 percent on a national level. Compared to the same interval in 2016, national rates dropped by 36.6 percent. Forecasts for the first quarter of 2019 show that office net absorptions are projected to decrease in almost every region. The most significant change is expected to take place in the West (down by 33.1 percent), followed by the Midwest (down by 20.8 percent). The South is set to experience a slight increase of 1.2 percent, the only forecasted growth for the first quarter of 2019.

—Posted on May 15, 2018

Source: CoStar Group Inc.

—Posted on Feb. 21, 2018