Houston Retail Market Report | Q4 2021

HOUSTON - Feb. 2, 2022 - PRLog -- Key Takeaways

• Vacancy continues to decrease
• Positive absorption recorded
• Rental rates increased 5.6% in 2021
• 2021 leasing volume reaches 5.8M SF

Houston Highlights

Houston's vacancy rate decreased 40 basis points from 6.2% to 5.8% over the quarter as more inventory was leased than new inventory delivered. Houston's retail sector recorded 1.3 million square feet of positive net absorption in the fourth quarter, pushing the year-end total to 3.1 million square feet absorbed. Leasing volume reached 1.5 million square feet in Q4 bringing the year-end net total to 5.8 million square feet. The average asking rental rate rose 2.8% over the quarter and increased by 5.6% on an annual basis.

Executive Summary

Commentary By Wade H. Greene IV, CCIM | Principal

Houston Finishes 2021 as One of Nation's Top Retail Markets. What Lies Ahead?

In January 2021, the word most used amongst Houston's retail experts to summarize the condition of the market and its recovery was much like that of the rest of the world; uncertain. Vacancy rose, leasing activity slowed and new developments stalled, or were put on hold. Things soon changed for the Bayou City and... Read the full report here: https://www.colliers.com/en/research/houston/q4-2021-hous...