Houston office investment momentum rebuilds

U.S. office investment sales increased 13% year over year, signaling a cautious return of investor confidence as pricing continues to reset across select markets.
Sun Belt markets—including Atlanta, Houston, and Dallas—have led recent gains in transaction activity, while several primary markets such as Manhattan, Miami, and San Francisco have also recorded renewed momentum.
Against this backdrop, Houston’s office investment market staged a notable rebound over the trailing 12 months, with transaction volume surpassing $3.3 billion—up 163% year over year and marking the strongest showing since 2019.
This performance places Houston among the more active U.S. office investment markets, reflecting renewed institutional and private capital interest relative to peer metros.
Recent momentum reflects greater price discovery, selective recapitalizations, and growing owner‑user deal activity, particularly for well‑located assets. While deal flow is improving, investment strategies remain disciplined amid elevated vacancies, tighter underwriting standards, and higher—though moderating—financing costs.
Looking ahead, improving capital markets conditions and anticipated interest rate relief should support incremental growth in transaction volume through 2026, with capital favoring assets offering stable tenancy, reset pricing, or repositioning potential.

May 5, 2026

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