Office vacancies surged and sale prices dropped further this year as the market entered its 'slog' phase

ozgurdonmaz/Getty Images

• Office vacancies climbed more than 5% in six of the top 25 US markets this year, according to CommercialEdge.
• Sale prices, meanwhile, dropped again, down 9% from the average price in 2023.
• Remote and hybrid work continues to weigh on the office sector.

The US office market slumped again this year, entering a new phase of downturn that could last for years to come, a report said this week.

The report from data...