The total number of U.S. coworking locations declined in the second quarter, the first time that has happened since at least 2023, according to CoworkingCafe. 
The sector has still opened more locations than it closed in 2025, but coworking operators have gone from expanding at breakneck speed to a snail’s pace. Growth has slowed, but there are early signs that rising demand from corporate clients could fuel coworking’s next leap forward.  
“We’ve already made up for the Q2 reduction in count alone in Q3, from what we’ve seen from openings,” said Peter Kolaczynski, the director of research at Yardi, which owns flexible space booking website CoworkingCafe…