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As office construction dries up, overall availability begins to contract

Recent peak signals tighter market for competitive office space

Strong leasing activity and slowing completions of new office properties have combined to reduce Houston's availability rate by more than 100 basis points since the beginning of the year. (Michael Forbes/CoStar)
Strong leasing activity and slowing completions of new office properties have combined to reduce Houston's availability rate by more than 100 basis points since the beginning of the year. (Michael Forbes/CoStar)

Over the past six months, the amount of available office space has decreased, receding from the record high set earlier this year. Meanwhile, office vacancy has continued its historic rise, underscoring the dichotomy between buildings that still attract demand and those that do not.

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