Austin Office Figures - Q2 2026

Year-to-date net absorption reached 324,000 sq. ft. in Q2 2026, improving from negative absorption over the same period last year and signaling a modest recovery in office market fundamentals. Vacancy held flat quarter-over-quarter at 23.4% and declined 110 basis points year-over-year, while availability continued to compress, down 350 basis points from Q2 2025.

The construction pipeline contracted further to 703,000 sq. ft., down more than 60% year-over-year and well below prior peak levels, as limited new starts follow several years of elevated deliveries. Asking rents increased to $50.51 per sq. ft., up 1.5% quarter-over-quarter and 3.5% year-over-year, supported by stable Class A pricing. Overall, market conditions point to gradual stabilization, with demand turning positive, supply pressures easing as construction slows, and leasing activity remaining active but concentrated in a handful of submarkets.