Market Analysis and Trends for the U.S. Office Market

Market Analysis and Trends for the U.S. Office Market

The U.S. office market in the first quarter of 2024 has mixed results, with demand recovery continuing but occupancy losses persisting as office users evolve. Despite persistent downsizing, the market is being rebalanced through a robust conversion and redevelopment pipeline that has grown at a near exponential pace. The macroeconomic picture and occupier demand are improving, but negative net absorption remains stubbornly high.

Demand Recovery and Occupier Demand

The demand recovery in the U.S. office market has continued in the first quarter of 2024, with occupier demand improving. However, negative net absorption remains stubbornly high as major occupiers continue to trim meaningful amounts of space from their portfolios. While the market is being rebalanced through a robust conversion and redevelopment pipeline, the market is still facing challenges.

Conversion and Redevelopment Pipeline

The conversion and redevelopment pipeline in the U.S. office market has grown at a near exponential pace over the short term. This pipeline has helped to rebalance the market and provide opportunities for investors. The pipeline is expected to continue to grow in the coming years, providing opportunities for investors and developers.

Macroeconomic Picture and Occupier Demand

The macroeconomic picture and occupier demand in the U.S. office market are improving, which is driving demand recovery and rebalancing the market. The pipeline is expected to continue to grow in the coming years, providing opportunities for investors and developers.

Negative Net Absorption

Despite the positive trends in the U.S. office market, negative net absorption remains stubbornly high. This is due to major occupiers continuing to trim meaningful amounts of space from their portfolios. This is a challenge for the market and will require continued focus on rebalancing the market through conversion and redevelopment.

Conclusion

The U.S. office market in the first quarter of 2024 has mixed results, with demand recovery continuing but occupancy losses persisting as office users evolve. Despite persistent downsizing, the market is being rebalanced through a robust conversion and redevelopment pipeline that has grown at a near exponential pace. The macroeconomic picture and occupier demand are improving, but negative net absorption remains stubbornly high. The pipeline is expected to continue to grow in the coming years, providing opportunities for investors and developers.

FAQ's

What are some strategies for trend analysis and forecasting in financial markets?+

Who needs wealth management services?+

How can investors use market analysis to enhance their trading strategies?+

How can investors use market analysis to identify investment opportunities?+

How can investors use market analysis to manage their investment portfolios effectively?+

What is fundamental analysis?+

What is a bond default?+

What is the difference between residential and commercial real estate investing?+

What is the role of cryptocurrencies in remittances and cross-border payments?+

How do global market trends influence investment strategies?+

Want financial news and market updates?

FREE Weekly Market Updates delivered to your inbox.

Market Watch
$286.94
JPM
-1.51% (-$4.41)
JPMorgan Chase & Co.
11:40 AM
$569.24
QQQ
0.34% ($1.92)
Invesco QQQ Trust
8:00 AM
$761.83
META
-1.32% (-$10.16)
Meta, Inc.
8:00 AM
$31.13
GFI
1.17% ($0.36)
Gold Fields
10:25 AM
$74.35
NKE
-1.50% (-$1.13)
Nike, Inc.
11:40 AM
$69.07
NEM
1.69% ($1.15)
Newmont Corporation
9:10 AM
$386.17
HD
-0.16% (-$0.63)
The Home Depot, Inc.
11:20 AM
$58.04
AU
-0.41% (-$0.24)
AngloGold Ashanti
11:00 AM
$89.82
EFA
0.90% ($0.80)
iShares MSCI EAFE ETF
9:00 AM
$244.67
UNH
-0.45% (-$1.11)
UnitedHealth Group Incorporated
10:25 AM
$322.27
TSLA
0.74% ($2.36)
Tesla, Inc.
8:00 AM
$294.73
AXP
-0.27% (-$0.81)
American Express Company
11:30 AM
$11.28
CDE
14.05% ($1.39)
Coeur Mining
11:40 AM
$172.40
AMD
5.69% ($9.28)
Advanced Micro Devices, Inc.
8:00 AM
$112.88
DIS
-1.99% (-$2.29)
The Walt Disney Company
10:45 AM
$19.77
INTC
-3.14% (-$0.64)
Intel Corporation
8:05 AM
$700000.00
BRK-A
-0.44% (-$3115.12)
Berkshire Hathaway Inc.
11:30 AM
$3.83
BTG
1.86% ($0.07)
B2Gold
11:20 AM
$196.52
GOOGL
0.22% ($0.43)
Alphabet Inc.
8:00 AM
$332.09
V
-2.25% (-$7.65)
Visa Inc.
11:10 AM
$719.74
GS
-0.69% (-$5.00)
The Goldman Sachs Group, Inc.
11:35 AM
$153.16
CVX
0.25% ($0.38)
Chevron Corporation
11:20 AM
$64.08
IAU
0.82% ($0.52)
iShares Gold Trust
11:25 AM
$151.74
MMM
0.61% ($0.92)
3M Company
10:05 AM
$10.74
MUX
-0.37% (-$0.04)
McEwen Mining
11:20 AM
$11.55
SILV
-0.86% (-$0.10)
SilverCrest Metals
12:00 PM
$105.95
XOM
-0.53% (-$0.56)
Exxon Mobil Corporation
11:35 AM
$520.84
MSFT
-0.78% (-$4.10)
Microsoft Corporation
8:05 AM
$26.38
AGI
-0.11% (-$0.03)
Alamos Gold
11:30 AM
$34.76
SLV
1.19% ($0.41)
iShares Silver Trust
10:25 AM
$14.84
SSRM
-2.62% (-$0.40)
SSR Mining
8:35 AM
$18.77
KGC
0.32% ($0.06)
Kinross Gold
11:40 AM
$249.39
ORCL
-2.75% (-$7.04)
Oracle Corporation
10:10 AM
$171.46
FNV
0.24% ($0.41)
Franco-Nevada
11:20 AM
$70.43
KO
1.32% ($0.92)
The Coca-Cola Company
10:30 AM
$220.03
AAPL
3.17% ($6.76)
Apple Inc.
9:50 AM
$632.25
SPY
-0.08% (-$0.53)
SPDR S&P 500 ETF Trust
9:40 AM
$223.13
AMZN
0.37% ($0.83)
Amazon.com, Inc.
9:30 AM
$311.07
VTI
-0.06% (-$0.18)
Vanguard Total Stock Market ETF
11:25 AM
$103.12
WMT
-0.23% (-$0.24)
Walmart Inc.
11:35 AM
$28.06
T
2.07% ($0.57)
AT&T Inc.
11:40 AM
$23.08
EGO
-0.94% (-$0.22)
Eldorado Gold
11:30 AM
$99.79
WPM
1.24% ($1.22)
Wheaton Precious Metals
11:40 AM
$198.86
ABBV
1.30% ($2.56)
AbbVie Inc.
11:40 AM
$31.44
PAAS
7.12% ($2.09)
Pan American Silver
10:55 AM
$153.49
PG
0.41% ($0.63)
The Procter & Gamble Company
11:25 AM
$307.91
MCD
0.08% ($0.25)
McDonald's Corporation
11:00 AM
$80.37
MRK
1.17% ($0.93)
Merck & Co., Inc.
11:35 AM
$18.86
GOLD
-2.78% (-$0.54)
Barrick Gold Corp.
12:00 AM
$7.22
HL
18.17% ($1.11)
Hecla Mining
11:35 AM
$50.75
VWO
0.73% ($0.37)
Vanguard FTSE Emerging Markets ETF
11:30 AM
$24.23
PFE
1.25% ($0.30)
Pfizer Inc.
11:15 AM
$42.95
VZ
1.42% ($0.60)
Verizon Communications Inc.
10:40 AM
$227.33
BA
1.02% ($2.29)
Boeing Company
11:30 AM
$165.33
RGLD
2.48% ($4.00)
Royal Gold Inc.
8:00 AM
$69.90
CSCO
1.00% ($0.69)
Cisco Systems, Inc.
8:00 AM
$219.84
IWM
-0.33% (-$0.72)
iShares Russell 2000 ETF
11:35 AM
$68.22
PYPL
-1.73% (-$1.20)
PayPal Holdings, Inc.
8:00 AM
$10.16
SAND
2.01% ($0.20)
Sandstorm Gold
8:35 AM
$57.94
GDX
0.96% ($0.55)
VanEck Gold Miners
10:55 AM
$313.12
GLD
0.84% ($2.62)
SPDR Gold Trust
11:05 AM
$8.73
AG
4.18% ($0.35)
First Majestic Silver
10:35 AM
$240.88
CRM
-3.33% (-$8.29)
Salesforce.com, inc.
11:00 AM
$216.58
HON
-1.21% (-$2.65)
Honeywell International Inc.
9:45 AM
$5.40
EXK
2.86% ($0.15)
Endeavour Silver
9:45 AM
$135.78
AEM
0.27% ($0.36)
Agnico Eagle Mines
11:40 AM
$171.53
JNJ
0.55% ($0.94)
Johnson & Johnson
11:20 AM
$561.22
MA
-1.39% (-$7.91)
Mastercard Incorporated
10:35 AM
$72.37
GDXJ
1.59% ($1.13)
VanEck Junior Gold Miners
11:30 AM
$180.77
NVDA
0.75% ($1.35)
NVIDIA Corporation
10:05 AM
$1180.37
NFLX
0.16% ($1.89)
Netflix, Inc.
8:00 AM
$581.29
VOO
-0.06% (-$0.35)
Vanguard S&P 500 ETF
10:55 AM
$49.48
EEM
0.84% ($0.41)
iShares MSCI Emerging Markets ETF
10:00 AM
$57.75
VEA
0.72% ($0.41)
Vanguard FTSE Developed Markets ETF
11:15 AM
$51.37
XLF
-1.12% (-$0.58)
Financial Select Sector SPDR Fund
11:20 AM
$585.53
VFIAX
-0.08% (-$0.44)
Vanguard 500 Index Fund
8:00 AM
$220.34
FXAIX
-0.08% (-$0.17)
Fidelity 500 Index Fund
8:00 AM
$151.34
VTSAX
-0.09% (-$0.14)
Vanguard Total Stock Market Index Fund
8:00 AM
$265.69
DODGX
0.20% ($0.53)
Dodge & Cox Stock Fund
8:00 AM
$83.74
AGTHX
-0.19% (-$0.16)
American Funds Growth Fund of America
8:00 AM
$207.03
TRBCX
-0.31% (-$0.64)
T. Rowe Price Blue Chip Growth Fund
8:00 AM
$20.70
BECO
0.12% ($0.02)
BlackRock Future Climate and Sustainable Economy
6:55 PM
$67.30
GLDM
0.79% ($0.53)
SPDR Gold MiniShares
11:30 AM
$63.98
BITB
2.01% ($1.26)
Bitwise Bitcoin
10:45 AM
$92.44
GBTC
1.94% ($1.76)
Grayscale Bitcoin
11:15 AM
$89.80
VNQ
0.29% ($0.26)
Vanguard Real Estate
11:10 AM
$338.27
ADBE
-2.13% (-$7.35)
Adobe Inc.
9:30 AM
$111.85
ALTR
0.00% (-$0.00)
Altair Engineering Inc.
8:00 AM
$183.15
AMAT
2.81% ($5.01)
Applied Materials, Inc.
8:00 AM
$284.70
AMGN
0.01% ($0.03)
Amgen Inc.
8:00 AM
$127.75
BIIB
-1.23% (-$1.59)
Biogen Inc.
8:00 AM
$44.02
CECO
-3.21% (-$1.46)
CECO Environmental Corp.
8:50 AM
$185.03
CHKP
-1.69% (-$3.18)
Check Point Software Technologies Ltd.
8:00 AM
$117.82
CHRW
0.07% ($0.08)
C.H. Robinson Worldwide, Inc.
8:00 AM
$31.67
CMCSA
-1.52% (-$0.49)
Comcast Corporation
8:00 AM
$977.45
COST
0.92% ($8.89)
Costco Wholesale Corporation
8:00 AM
$223.40
CTAS
-0.39% (-$0.88)
Cintas Corporation
8:00 AM
$133.93
DELL
4.52% ($5.79)
Dell Technologies Inc. Class C
11:30 AM
$117.16
DLTR
0.68% ($0.79)
Dollar Tree, Inc.
8:00 AM
$93.02
EBAY
0.52% ($0.48)
eBay Inc.
8:00 AM
$118.07
EXPD
-0.56% (-$0.66)
Expeditors International of Washington, Inc.
11:15 AM
$47.48
FAST
1.50% ($0.70)
Fastenal Company
8:00 AM
$49.71
FLEX
-0.30% (-$0.15)
Flex Ltd.
8:00 AM
$110.28
GILD
0.00% (-$0.00)
Gilead Sciences, Inc.
10:20 AM
$26.66
GNTX
0.19% ($0.05)
Gentex Corporation
8:00 AM
$228.96
GRMN
-0.49% (-$1.12)
Garmin Ltd.
8:20 AM
$65.90
HSIC
-0.63% (-$0.42)
Henry Schein, Inc.
8:00 AM
$761.61
INTU
-2.29% (-$17.86)
Intuit Inc.
8:00 AM
$39.95
JNPR
0.05% ($0.02)
Juniper Networks, Inc.
12:00 AM
$912.06
KLAC
2.68% ($23.78)
KLA Corporation
8:00 AM
$124.75
LAMR
0.15% ($0.19)
Lamar Advertising Company
8:00 AM
$99.15
LRCX
3.35% ($3.21)
Lam Research Corporation
8:00 AM
$66.22
MCHP
0.08% ($0.05)
Microchip Technology Incorporated
9:30 AM
$25.96
MEDI
-2.03% (-$0.54)
Harbor
8:00 AM
$75.85
MRVL
0.70% ($0.53)
Marvell Technology, Inc.
8:00 AM
$103.85
NTAP
0.50% ($0.52)
NetApp, Inc.
8:00 AM
$140.52
PAYX
1.04% ($1.44)
Paychex, Inc.
8:00 AM
$96.77
PCAR
-0.62% (-$0.60)
PACCAR Inc.
8:00 AM
$31.33
PDCO
0.00% (-$0.00)
Patterson Companies, Inc.
12:00 AM
$5.35
PTEN
-1.65% (-$0.09)
Patterson-UTI Energy, Inc.
8:05 AM
$145.90
QCOM
0.04% ($0.06)
QUALCOMM Incorporated
8:00 AM
$145.15
ROST
-0.96% (-$1.40)
Ross Stores, Inc.
8:00 AM
$64.80
RYAAY
0.29% ($0.19)
Ryanair Holdings plc
8:00 AM
$116.75
SANM
0.73% ($0.85)
Sanmina Corporation
4:10 PM
$90.67
SBUX
-2.25% (-$2.09)
Starbucks Corporation
4:10 PM
$642.13
SNPS
-0.50% (-$3.22)
Synopsys, Inc.
4:10 PM
$638.00
SPOT
-1.92% (-$12.47)
Spotify Technology S.A. Ordinary
4:10 PM
$16.00
TEVA
-4.90% (-$0.83)
Teva Pharmaceutical Industries Limited American Depositary
4:10 PM
$265.79
VRSN
-0.45% (-$1.20)
VeriSign, Inc.
4:10 PM
$195.74
VRTS
-0.52% (-$1.02)
Virtus Investment Partners, Inc.
4:10 PM
$14.65
XRAY
-5.27% (-$0.82)
DENTSPLY SIRONA Inc.
4:10 PM
$
BRK.B
% (-$)
Berkshire Hathaway Inc. New
$47.51
BAC
-0.95% (-$0.45)
Bank of America Corporation
4:10 PM
$143.92
PEP
2.22% ($3.12)
PepsiCo, Inc.
8:00 AM
$132.06
ABT
0.86% ($1.13)
Abbott Laboratories
11:40 AM
$454.74
TMO
1.29% ($5.80)
Thermo Fisher Scientific Inc
11:40 AM
$303.76
AVGO
0.69% ($2.09)
Broadcom Inc.
8:00 AM
$241.72
ACN
-2.35% (-$5.82)
Accenture plc
11:20 AM
$640.86
LLY
-14.14% (-$105.51)
Eli Lilly and Company
11:05 AM
$198.49
DHR
1.70% ($3.32)
Danaher Corporation
11:30 AM
$91.24
MDT
2.10% ($1.88)
Medtronic plc. Ordinary
8:20 AM
$72.58
NEE
2.89% ($2.04)
NextEra Energy, Inc.
11:25 AM
$185.91
TXN
0.00% (-$0.00)
Texas Instruments Incorporated
8:00 AM
$469.43
LIN
-0.43% (-$2.05)
Linde plc
8:20 AM
$45.36
BMY
1.20% ($0.54)
Bristol-Myers Squibb Company
11:40 AM
$77.05
WFC
-0.72% (-$0.56)
Wells Fargo & Company
11:40 AM
$168.17
PM
0.71% ($1.18)
Philip Morris International Inc
11:10 AM
$222.66
UNP
-1.24% (-$2.80)
Union Pacific Corporation
10:40 AM
$250.16
IBM
-0.84% (-$2.12)
International Business Machines Corporation
11:35 AM
$140.92
MS
-0.27% (-$0.38)
Morgan Stanley
11:35 AM
$272.02
GE
-0.10% (-$0.26)
GE Aerospace
11:15 AM
$417.12
CAT
-2.48% (-$10.60)
Caterpillar, Inc.
11:30 AM
$1112.83
BLK
-0.69% (-$7.71)
BlackRock, Inc.
11:15 AM
$63.55
MO
0.63% ($0.40)
Altria Group, Inc.
11:30 AM
$86.49
UPS
0.28% ($0.24)
United Parcel Service, Inc.
11:35 AM
$506.64
DE
-0.59% (-$3.00)
Deere & Company
10:45 AM
$91.23
C
-1.08% (-$1.00)
Citigroup, Inc.
11:30 AM
$430.75
LMT
-0.94% (-$4.10)
Lockheed Martin Corporation
11:35 AM
$155.76
RTX
0.01% ($0.01)
RTX Corporation
11:40 AM
$70.07
FIS
0.24% ($0.17)
Fidelity National Information Services, Inc.
10:35 AM
$469.81
ISRG
-0.90% (-$4.25)
Intuitive Surgical, Inc.
8:00 AM
$376.37
SYK
0.38% ($1.43)
Stryker Corporation
10:25 AM
$95.99
SCHW
-0.74% (-$0.72)
Charles Schwab Corporation (The)
8:25 AM
$271.00
CI
0.39% ($1.04)
The Cigna Group
11:40 AM
$375.63
VRTX
-2.60% (-$10.02)
Vertex Pharmaceuticals Incorporated
8:00 AM
$187.68
BDX
8.86% ($15.27)
Becton, Dickinson and Company
10:30 AM
$559.13
SPGI
-0.61% (-$3.43)
S&P Global Inc.
8:55 AM
$111.87
MU
2.84% ($3.09)
Micron Technology, Inc.
8:00 AM
$187.12
PNC
-0.76% (-$1.44)
PNC Financial Services Group, Inc.
11:30 AM
$11.28
F
0.62% ($0.07)
Ford Motor Company
10:40 AM
$105.67
TGT
0.27% ($0.28)
Target Corporation
10:50 AM
$303.49
ADP
0.61% ($1.85)
Automatic Data Processing, Inc.
8:00 AM
$91.22
EL
1.19% ($1.07)
Estee Lauder Companies, Inc.
11:30 AM
$238.56
LOW
0.11% ($0.27)
Lowe's Companies, Inc.
9:35 AM
$92.60
COP
-0.55% (-$0.51)
ConocoPhillips
11:30 AM
$269.31
CB
-0.12% (-$0.32)
Chubb Limited
11:30 AM
$62.40
MDLZ
0.53% ($0.33)
Mondelez International, Inc.
8:00 AM
$115.97
EOG
-0.53% (-$0.62)
EOG Resources, Inc.
9:40 AM
$131.98
TJX
-0.09% (-$0.12)
TJX Companies, Inc.
10:10 AM
$5432.10
BKNG
-1.88% (-$104.21)
Booking Holdings Inc.
8:00 AM
$76.60
AIG
-3.11% (-$2.46)
American International Group, Inc.
10:50 AM
$52.95
GM
0.91% ($0.48)
General Motors Company
11:30 AM
$53.63
DAL
-0.91% (-$0.49)
Delta Air Lines, Inc.
11:00 AM
$98.43
ZBH
7.99% ($7.28)
Zimmer Biomet Holdings, Inc.
10:00 AM
$84.71
CL
0.12% ($0.10)
Colgate-Palmolive Company
11:15 AM
$514.06
MCO
-0.66% (-$3.42)
Moody's Corporation
8:20 AM
$73.82
MET
-2.80% (-$2.13)
MetLife, Inc.
11:30 AM
$25.35
HPQ
1.36% ($0.34)
HP Inc.
10:50 AM
$36.49
FMC
-0.60% (-$0.22)
FMC Corporation
11:35 AM
$136.77
KMB
0.07% ($0.09)
Kimberly-Clark Corporation
8:00 AM
$57.86
ADM
1.99% ($1.13)
Archer-Daniels-Midland Company
11:20 AM
$115.63
DG
2.04% ($2.31)
Dollar General Corporation
11:30 AM
$256.14
HUM
-0.19% (-$0.48)
Humana Inc.
8:20 AM
$182.20
PLTR
1.48% ($2.66)
Palantir Technologies Inc.
8:00 AM