According to CBRE, vacancy for the U.S. office market inched up by 10 basis points (bps) during the first quarter of 2016 (Q1 2016), rising to 13.2%. Even with the increase, the national office vacancy rate remains at the lowest level since 2008. Despite the slight increase, vacancy continued to improve in the majority of U.S. markets, with rates falling in 33 markets, rising in 25, and remaining unchanged in five. Suburban vacancy remained at 14.7% while downtown vacancy increased by 10 bps, to 10.4%. The overall national office vacancy rate has fallen 70 bps over the past four quarters.
U.S. Office National Vacancy Rate Upticks in Early 2016