East Bay/Oakland office market reports
Q4 2023
In the current economic landscape, job postings have declined notably, reflecting broader uncertainties. Landlords are adjusting rents in response to sluggish demand, and remote work opportunities continue to be a prominent option. Despite challenges, Q4 2023 shows signs of optimism in the leasing sector, suggesting resilience amidst ongoing market uncertainties and changing work dynamics.
Job Postings
Amidst stagnant economic conditions, total monthly job postings continue to decline, experiencing a 22.4% drop from the Q3 2023 average.
Asking Rates
Asking rates continue to fall as lackluster demand and rising vacancies pressure landlords to adjust.
Net Absorption
Net absorption takes a sharper decline into the negative territory in Q4 2023, although the year concludes with a positive overall figure.
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