Q3 2021 | Houston Retail Market Report

HOUSTON - Oct. 28, 2021 - PRLog -- Key Takeaways

• Houston's population growth caused increasing demand
• Vacancy remained low
• Positive absorption recorded
• Rental rates increased
• Leasing activity up 37 percent

Houston Highlights

Houston's vacancy rate decreased 20 basis points from 5.9% to 5.7% over the quarter as more inventory was leased than new inventory delivered. Houston's retail sector recorded 671,400 square fee of positive net absorption in the third quarter. Leasing activity increased 37 percent between quarters recording over 1.5 million square feet in Q3. According to the U.S. Bureau of Labor Statistics (BLS), Houston's Retail Trade employment sector increased 1.4% and the Clothing and Clothing Accessories Stores sub-sector increased 9.7% between August 2020 and August 2021.

Executive Summary

Commentary By Cody Persyn | Senior Vice President & Wade H. Greene IV, CCIM | Principal

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