Quarterly Snapshot 3Q24 | Office | The Houston Office Market Returned to Positive Absorption
In 3Q24, the Houston office market exhibited several promising trends, including improved net absorption, stable rental rates at $29.88pSF, and a slight decrease in the overall vacancy rate which stands at 18.9%. Urban offices drove the demand in Houston as companies are wanting to be closer to their employees. Furthermore, in 3Q24, the Central Business District (CBD) led leasing activity, accounting for 32% of the total deal volume.