The Houston Office market ended the third quarter 2018 with a vacancy rate of 16.4%. The vacancy experienced a slight decrease over second quarter 2018, with a vacancy rate of 16.5%. Net absorption totaled positive 1,138,149 square feet in the third quarter. Rental rates ended the third quarter at $28.44, an increase of 2.0% from the previous quarter. A total of 10 buildings totaling 82,882 square feet were delivered to the market in the third quarter. There was 3,842,673 square feet of office space under construction at the end of the third quarter 2018.