CoStar sees U.S. industrial vacancy steady at 7.3% through 2027

CoStar revised its U.S. industrial forecast, holding the national vacancy rate at 7.3% through 2027 before a gradual decline in 2028. Demand is expected to outpace supply for the rest of 2026, but conditions reverse in 2027 with absorption moderating to about 204 million square feet and completions rising to roughly 243 million square feet. Risks remain weighted to the downside, including construction, trade uncertainty, and a sluggish housing market.