U.S. office leasing remained steady in Q2 2026, according to data from CoStar, the leading global provider of online real estate marketplaces, information and analytics in the property markets.
Office tenants signed new leases for an estimated 115 million square feet during Q2 2026, which remains slightly below the 2015-19 quarterly average.
“The second-quarter results suggest a market demonstrating a sustained recovery but also bending to constraints imposed by supply and demand,” said Phil Mobley, national director of office analytics at CoStar Group. “While there has been a slowdown in hiring, especially in the tradition knowledge-oriented industries, organizations in some sectors have been actively committing to new space, including financial service institutions, many of which have firmer expectations for frequent office attendance.”
At the market level, Charlotte, Miami, New York City, and San Francisco are deviating from the small lease trend, and as a result, volume is well above its long-run average in each of the four markets.
Overall volume remains close to its pre-pandemic average in Dallas and Houston, with activity rising enough to offset the trend toward smaller deals.
Elsewhere, volume remains depressed, with deal counts struggling to recover in nearly half of the country’s largest 20 office markets.
Source: “U.S. Office Leasing Remained Steady in the Second Quarter of 2026“
