Quarterly Snapshot 3Q24 | Retail | The Houston Retail Market is Steady Through Slowing Demand
Houstona™s retail market continued to perform strongly in 3Q24 within the city's commercial real estate landscape, fueled by ongoing population and job growth. Quarterly net deliveries have outpaced demand in five of the last six quarters, indicating a persistent supply-demand imbalance. While vacancy rates have slightly increased by 0.3% in the past few quarters, they remain relatively low overall at 5.1%. Additionally, retailers are still seeking space, although the pace of demand has slowed compared to 2023. This trend should continue in the coming quarter and into 2025.