{"id":23061,"date":"2019-10-01T09:45:24","date_gmt":"2019-10-01T16:45:24","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=23061"},"modified":"2026-02-22T15:27:59","modified_gmt":"2026-02-22T23:27:59","slug":"office-market-update","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/office-market-update\/","title":{"rendered":"Office Market Update"},"content":{"rendered":"

A new report from Yardi\u00ae<\/sup> Matrix<\/a> shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7% year-over-year, tops overall non-farm employment growth\u2014driving a 0.1% year-over-year street rate increase in August 2019.\"\"<\/p>\n

\u201cMarkets with lower-than-average vacancy rates and solid office-using employment growth continue to have the highest rate of year-over-year growth in listing rates,\u201d the report says, citing San Francisco, Tampa, Fla., Nashville, Tenn., and Austin, Texas, as the leaders. Large, expensive spaces entering the market and pushing overall listing rates upward account for much of their increases.<\/p>\n

Strong fundamentals don\u2019t always produce high listing rate growth, however. For example, two new business centers and 106,253 square feet of available floor space in an existing mall are depressing rates in Orlando, Fla. The metro had the largest decrease in listing rates in August (-5.9%). Chicago, which has shaky fundamentals, had the second-largest (-5.2%).<\/p>\n

Year-to-date office sales through the end of August totaled $55.2 billion, slightly behind the $60.7 billion registered through the same period last year. Space under construction, 179.1 million square feet, represents 2.9% of stock.<\/p>\n

The Yardi Matrix national office report for September 2019 has a wealth of information on occupancy trends, supply, office-using employment and more. Download it now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7% year-over-year, tops overall non-farm employment growth\u2014driving a 0.1% year-over-year street rate increase in August 2019. \u201cMarkets with lower-than-average vacancy rates and solid office-using employment growth continue to have the highest rate of year-over-year […]<\/p>\n","protected":false},"author":610,"featured_media":22354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2791,4],"tags":[1703,2671,1169],"class_list":["post-23061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matrix","category-news","tag-cre","tag-office-market-update","tag-yardi-matrix"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office Market Update\" \/>\n<meta property=\"og:description\" content=\"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/office-market-update\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-01T16:45:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-22T23:27:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joel Nelson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joel Nelson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/\",\"name\":\"Office Market Update - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg\",\"datePublished\":\"2019-10-01T16:45:24+00:00\",\"dateModified\":\"2026-02-22T23:27:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/04eb5f3b4bd7f02475913d5982a422c8\"},\"description\":\"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/office-market-update\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg\",\"width\":1000,\"height\":485},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/office-market-update\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Office Market Update\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\",\"url\":\"https:\/\/www.yardi.com\/blog\/\",\"name\":\"Yardi Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.yardi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/04eb5f3b4bd7f02475913d5982a422c8\",\"name\":\"Joel Nelson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/JoelNelsonHeadshot.jpg?w=69\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/JoelNelsonHeadshot.jpg?w=69\",\"caption\":\"Joel Nelson\"},\"description\":\"Joel Nelson, senior marketing writer, joined Yardi in 2007. His byline has appeared in New York Real Estate Journal, Canadian Property Management and Los Angeles Lawyer, among others. He has won multiple awards from major professional organizations including the International Association of Business Communicators and Public Communicators of Los Angeles. Joel earned a bachelor\u2019s degree from Pomona College.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/joel-nelson-aa363113\/\"],\"url\":\"https:\/\/www.yardi.com\/blog\/author\/joel-nelson\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yardi Blog","description":"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Office Market Update","og_description":"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%","og_url":"https:\/\/www.yardi.com\/blog\/office-market-update\/","og_site_name":"Yardi Blog","article_published_time":"2019-10-01T16:45:24+00:00","article_modified_time":"2026-02-22T23:27:59+00:00","og_image":[{"width":1000,"height":485,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg","type":"image\/jpeg"}],"author":"Joel Nelson","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Joel Nelson","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/","url":"https:\/\/www.yardi.com\/blog\/office-market-update\/","name":"Office Market Update - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg","datePublished":"2019-10-01T16:45:24+00:00","dateModified":"2026-02-22T23:27:59+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/04eb5f3b4bd7f02475913d5982a422c8"},"description":"A new report from Yardi\u00ae Matrix shows that demand for U.S. office space remains strong, with office-using employment sector growth\u2014which, at 1.7%","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/office-market-update\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg","width":1000,"height":485},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/office-market-update\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Office Market Update"}]},{"@type":"WebSite","@id":"https:\/\/www.yardi.com\/blog\/#website","url":"https:\/\/www.yardi.com\/blog\/","name":"Yardi Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/04eb5f3b4bd7f02475913d5982a422c8","name":"Joel Nelson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/JoelNelsonHeadshot.jpg?w=69","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2026\/02\/JoelNelsonHeadshot.jpg?w=69","caption":"Joel Nelson"},"description":"Joel Nelson, senior marketing writer, joined Yardi in 2007. His byline has appeared in New York Real Estate Journal, Canadian Property Management and Los Angeles Lawyer, among others. He has won multiple awards from major professional organizations including the International Association of Business Communicators and Public Communicators of Los Angeles. Joel earned a bachelor\u2019s degree from Pomona College.","sameAs":["https:\/\/www.linkedin.com\/in\/joel-nelson-aa363113\/"],"url":"https:\/\/www.yardi.com\/blog\/author\/joel-nelson\/"}]}},"jetpack_featured_media_url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2019\/05\/Austin-Texas.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/23061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/users\/610"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/comments?post=23061"}],"version-history":[{"count":1,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/23061\/revisions"}],"predecessor-version":[{"id":23062,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/23061\/revisions\/23062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/22354"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=23061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=23061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=23061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}