US office sales surged 31% year‑over‑year in July, delivering $7.6 billion in nationwide volume and marking the sector as the sole traditional asset class with YoY price gains of 4% that month.
Office Stands Out in a Flat Sales Market
Total commercial property volume slipped 1% to $36.3 billion, yet office activity defied the trend with stronger transaction volume and modest price improvement.
Williams Tower in Houston changed hands for $300 million, the city’s largest office deal since 2019, while Hines acquired an Austin office tower for $151 million, underscoring renewed confidence.
CBD Sales Lead the Increase
Urban core office sales jumped 46% in July, outpacing suburban growth of 26% and highlighting a shift toward downtown building trades.
Colliers said the CBD surge stemmed from individual building sales, whereas suburban gains relied on portfolio deals, including medical office bundles.
First‑Half Volume Already Improving
First‑half office sales reached $40 billion, a 14.1% increase from the same period in 2025, extending the momentum into Q3.
Avison Young identified New York metro, the Bay Area and Houston as the top transaction markets during the first half of 2026.
Vacancy Trends Add to the Recovery Story
Vacancy rates fell in more than half of major US markets, signaling an occupancy rebound after years of oversupply.
AI‑driven demand in New York City and San Francisco spurred leasing activity, and the trend spread beyond traditional tech hubs, suggesting broader market health.
Why It Matters
Improved sales volume restores price discovery for owners, lenders and investors, easing the post‑pandemic distress that still shadows office assets.
That liquidity boost could accelerate further investment as confidence builds across the sector.
