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  • Axios Seattle

    Seattle's office vacancies are below the national rate

    By Christine Clarridge,

    2024-03-04
    Data: Moody's Analytics ; Chart: Axios Visuals

    The Seattle area's office vacancy rate — 17.4% — is below the national rate of 19.6%, according to data from Moody's Analytics for the fourth quarter of 2023.

    Why it matters: Office building vacancies nationally continue to be an issue, hitting a record high in the fourth quarter of last year as companies adapt to the new norms of remote and hybrid work by shrinking their physical footprints, writes Axios' Emily Peck .


    Catch up quick: Last year, Seattle saw the greatest decline in demand for office space among seven large American cities, according to a commercial real estate software company.

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