CommercialCafe's August 2026 national office report puts vacancy at 17.7%, down 130 basis points year-over-year, with average asking rents up 2.6% YoY to $33.58/sq ft. Office sales hit $36B across 1,576 deals through July at an average $198/sq ft, while only ~29.5M sq ft (roughly 0.4% of stock) is under construction.
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US office vacancy falls to 17.7% in July 2026 as conversions trim supply
Why this matters for founders
Improving landlord competition plus scarce new supply means founders can still win favorable office leases, but the negotiating window narrows as vacancy keeps declining.
Source: CommercialCafe (Yardi)
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