Houston

Q3 2017 | Houston Office | Market Report

Houston’s office market continues to struggle as U.S. crude prices waiver around $50 per barrel. According to the U.S. Energy Information Administration (EIA), they are expected to stay in this range through 2018. With no indication that prices will rise substantially over the next few years, vacant office space placed on the market by firms in the energy industry will take longer to absorb. Recent news articles indicate that some of the large energy giants reported profits in the second quarter. However, profits were largely driven by lean budgets and staff reductions.

Q3 2017 Office Highlights


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Expertise

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Job Growth & Unemployment (Not Seasonally Adjusted)

UNEMPLOYMENT 8/16 8/17
Houston 5.7% 5.2%
Texas 4.9% 4.5%
U.S. 5.1% 4.5%
JOB
GROWTH
ANNUAL CHANGE # OF JOBS ADDED
Houston 1.8% 53.5K
Texas 2.4% 286.3K
U.S. 1.5% 2.1M

Texas