: The market is highly bifurcated. High-end, amenitized buildings (Trophy and Class A+) are seeing rising rents and tightening concessions, while older, non-competitive buildings account for nearly 44% of all vacant space.

: A "V-shaped" recovery is underway in 2026, with over 24.3 million square feet under construction—the largest pipeline since 2023. Rents are at record highs, averaging $10.67/sq ft NNN , though vacancy has climbed to 7.4%–7.8% as new supply outpaces move-ins.

: Retail remains balanced with a low vacancy rate of 5.6% . Demand is strongest for shopping centers anchored by grocery or experiential tenants in high-growth suburban areas. 2. Top Neighborhoods for Investment Houston Office Market Reports | Avison Young US