Cushman & Wakefield: U.S. Office Recovery Broadens as Vacancy Declines Across More Than Half of U.S. Markets

U.S. office market recovery is broadening, with national vacancy declining to 20.1% and demand reaching a six-year high on a four-quarter rolling basis. Vacancy fell in 49 of 92 markets, while sublease space dropped 15.4% year-over-year to 95.6 million sq ft. New office completions declined 24%, and total inventory contracted by 0.6%. Limited supply and improving demand support gradual recovery through 2026.