United States Office Market Overview

Growth in the national office market paused in the first quarter of 2025, with occupancy gains in Central and Eastern markets offset by losses in the South and West. Still, the momentum has shifted following 18 quarters of major losses from 2Q20 to 3Q24, with conditions pointing towards improvement in the coming quarters. Remote work continues to influence tenants’ evaluation of their space needs—though work from home trends have been generally stable since the first quarter of 2023. This report explores the current state of the national office market and highlights trends to look out for in the future.

United States Office Market Overview