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August 2025 Placer.ai Office Index: An End-of-Summer Slump? 

Placer.ai’s August 2025 Office Index shows visits down 34% vs 2019, with seasonal shifts masking steady recovery trends.

By 
Lila Margalit
September 12, 2025
August 2025 Placer.ai Office Index: An End-of-Summer Slump? 
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The Placer.ai Nationwide Office Building Index: The office building index analyzes foot traffic data from some 1,000 top-tier office buildings across the country, including newer buildings that were at least partially leased by the end of 2019. It only includes commercial office buildings, and commercial office buildings with retail offerings on the first floor (like an office building that might include a national coffee chain on the ground floor). It does NOT include government buildings or mixed-use buildings that are both residential and commercial.
Key Takeaways
  • August 2025 office visits declined 34.3% compared to August 2019 – representing a modest setback likely driven by calendar differences and seasonal vacation patterns.
  • San Francisco continued its resurgence, outperforming Chicago in post-pandemic office recovery metrics. 
  • Chicago (+12.5%), San Francisco (+10.2%), and Boston (+3.1%) led year-over-year office recovery, all surpassing the nationwide average of +2.9%.

With summer just behind us, we dove into the data to see how office visitation fared in August 2025. Did July’s impressive recovery momentum hold, or did seasonal factors slow the pace?

The August Effect

Visits to the Placer.ai Nationwide Office Building Index registered a 34.3% decline in August 2025 compared to the same period in 2019 – a wider gap than that seen in August 2023, and an even more notable retreat from July's encouraging 21.8% deficit.

However, this apparent setback is largely due to calendar differences: August 2025 had only 21 working days, compared to 22 in both August 2024 and 2019, and 23 in August 2023. When normalized for average visits per workday, August 2025 actually outperformed August 2023.

Seasonal dynamics also likely played a crucial role. August represents peak vacation season, and just as employees often embrace remote work on Fridays to extend weekends, they likely embrace similar flexibility during the peak summer travel season. Organizations may also relax in-office requirements when substantial portions of their workforce are taking time off.

So rather than signaling a genuine return-to-office (RTO) reversal, August's softer performance likely reflects the intersection of compressed work calendars and seasonal vacation patterns, with the underlying recovery trajectory remaining fundamentally intact.

San Francisco Sustains Momentum

The August effect impacted major markets nationwide, including New York and Miami – both of which achieved full recovery in July yet posted year-over-six-year gaps in excess of 10.0% last month. But while gaps widened across most markets, San Francisco once again avoided last place, ranking ahead of Chicago in post-pandemic office recovery metrics. Despite still facing below-average office attendance relative to 2019 levels, the Bay Area market’s renewed momentum – bolstered by increased AI-sector leasing activity – continues drawing employees back to offices even amid summer distractions.

Chicago Leads YoY Office Recovery

San Francisco also ranked among August's year-over-year (YoY) office visit recovery leaders, providing further evidence of the city’s robust recovery momentum. But it was Chicago that claimed the top spot with a 12.5% year-over-year (YoY) gain – encouraging progress for the Windy City, though it remains to be seen whether this signals the beginning of a lasting turnaround.

Meanwhile, Boston also exceeded the nationwide year-over-year average of 2.9% with a 3.1% increase, while Washington, D.C. lagged behind with a YoY decline of 3.9%.

Renewed Gains in September?

As we noted in July, the office recovery path is anything but linear. Months of significant progress are often followed by more sluggish periods – and August 2025 exemplifies how seasonality and calendar differences can obscure underlying trends. 

Will September 2025 set a new RTO record as kids return to school and employees refocus?

Follow Placer.ai/anchor to find out. 

Placer.ai leverages a panel of tens of millions of devices and utilizes machine learning to make estimations for visits to locations across the US. The data is trusted by thousands of industry leaders who leverage Placer.ai for insights into foot traffic, demographic breakdowns, retail sale predictions, migration trends, site selection, and more

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