The Houston Office market ended the third quarter 2018 with a vacancy rate of 16.5%. The vacancy rate was down over third quarter 2018. Net absorption totaled positive 2,004,576 square feet in the fourth quarter. Rental rates ended the third quarter at $28.56, an increase of 0.1% from the previous quarter. A total of 17 buildings totaling 814,151 square feet were delivered to the market in the fourth quarter. There was 3,141,781 square feet of office space under construction at the end of the fourth quarter 2018.