Absorption of office space in the largest U.S. markets Q4 2022
Among the 25 markets with the largest class A office real estate inventory in the United States, nine experienced positive absorption rates during the fourth quarter of 2022. Pittsburgh, had the highest absorption rate at almost 313,000 square feet, meaning that the amount of space physically occupied was 313,000 square meters more than the amount of space vacated. Manhattan, the largest U.S. office market was also the market with the lowest absorption rate at negative 1.7 million square feet. Despite a difficult 2022, the demand in the office sector is forecast to pick up, with net absorption increasing until 2027.
