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Q3 2018 Houston Office Research & Forecast Report

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  • Q3 2018 Houston Office Research & Forecast Report

    By Brittany Ofield

    Click image for larger version

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    Houston’s office market is finally on the mend


    Houston’s office market made more progress in the third quarter than it has in the past three years, posting positive absorption of 901,844 SF, a substantial increase from the negative 0.7 million SF of absorption recorded one year ago. Leasing activity increased 22% over the quarter, and Houston’s overall vacancy rate is finally below 20%.

    Houston’s job growth increased by 3.7% over the year according to recent data released by the US Bureau of Labor Statistics. The Houston MSA created 101,200 jobs (not seasonally adjusted) between August 2017 and August 2018, growing faster than Texas and the U.S. during the same period. Employment sectors with the most substantial growth includes the construction sector which grew by 13.5% over the year, and professional and business services which increased by 7.2%.

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  • #2
    so interesting photo!

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