Office real estate net absorption in the U.S. 2022, with a forecast until 2027

The net absorption of office real estate in the United States is forecast to increase in 2023, after a sluggish year with slightly over two million square feet of space absorbed in 2022 and many markets experiencing negative net absorption. The sector has been badly affected by the drop in demand as many businesses introduced hybrid work to tackle the spread of the coronavirus pandemic. The net absorption measures the amount of space that became newly occupied minus the space vacated during a specific period. In 2023, the net absorption of offices is set to exceed 23 million feet.