Houston office absorption up but still negative

​​​HOUSTON – In se​cond quarter 2019, the local office vacancy rate grew 40 basis points to 19.4 percent, according to CBRE.

Move-ins scheduled into 2019 suggest vacancy rates are poised to decline in the coming quarters.​

The average asking rate grew to $​29.47 per sf, up from $29.28 in the first quarter.

Net absorption grew, but still remained negative at -393,685 sf.

Last quarter, 1.83 million sf of office space was under construction.