By: Dr. Hany Guirguis, Manhattan College, and Dr. Joshua Harris, New York University
The NAIOP Office Space Demand Forecast is based on a predictive model that forecasts net absorption of U.S. office space on a quarterly basis for eight consecutive quarters.
The forecast is based on five variables each with a logical and direct relationship to the business prospects and health of office space users including the growth rate in real gross domestic product (GDP), corporate profits of domestic industries, total employment in the financial sector, the ISM-NM Inventories Index and the ISM-NM Supplier Deliveries Index.
The forecast for the U.S. is issued semiannually in May and November. Below are the current and previous Office Space Demand Forecasts.