{"id":8265,"date":"2025-01-08T09:51:25","date_gmt":"2025-01-08T09:51:25","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8265"},"modified":"2025-02-11T09:52:23","modified_gmt":"2025-02-11T09:52:23","slug":"us-office-market-outlook-december-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/us-office-market-outlook-december-2024\/","title":{"rendered":"U.S. Office Market Outlook \u2013 December 2024"},"content":{"rendered":"\n

Read the latest Yardi Matrix Office Market Outlook<\/a><\/strong>.<\/p>\n\n\n\n

\n\n\n\n

The national office vacancy rate reached 19.4 percent by the end of November, a substantial 120 basis point uptick from the same period the previous year, according to the latest Yardi Matrix U.S. office market outlook.<\/em><\/p>\n\n\n\n

Report Highlights<\/h2>\n\n\n\n
    \n
  • The national office vacancy rate reached 19.4 percent at the end of November, an increase of 120 basis points compared to the same period in 2023.<\/li>\n\n\n\n
  • National full-service equivalent listing rates averaged $32.85 per square foot, reflecting a modest six-cent increase over the previous month.<\/li>\n\n\n\n
  • The office construction pipeline continues to contract, with 57.8 million square feet under development as of November.<\/li>\n\n\n\n
  • Year-to-date office investment totaled $32.6 billion through November.<\/li>\n\n\n\n
  • Office properties changed hands at an average price of $179 per square foot.<\/li>\n<\/ul>\n\n\n\n

    Office vacancies rise in 6 key markets<\/h2>\n\n\n\n

    The national office vacancy rate reached 19.4 percent by the end of November, Yard Matrix shows, reflecting a 120-basis-point increase compared to the same period in 2023. Over the past year, six markets experienced vacancy rate increases exceeding 500 basis points. Austin saw the sharpest rise at 650 basis points, followed by Boston at 630 basis points and Portland, Ore., at 620 basis points.<\/p>\n\n\n\n