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Market-wide net absorption remained positive in Q3 2019, with 74,588 sq. ft. absorbed.
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Though retail activity cooled this summer, the labor force remained hot. According the Federal Reserve Bank of Dallas, employment grew at an annualized rate of 4.8% from May to August of 2019.
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Private sector wages grew $0.39 from last quarter, ending Q3 2019 at an average of $24.51 per hour.
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With over 923,000 sq. ft. of retail product currently underway, 89% of the supply is stemming from the Northeast and Northwest submarkets.