• DFW recorded a 4.7% unemployment rate in August 2021, 60 bps lower than July 2021. Comparing year-over-year, DFW has gained 196,500 non-farm jobs since last August and has recouped roughly 97.9% of jobs lost from March 2020 to August 2020.
  • In Q3 2021, DFW’s -621,328 sq. ft. net absorption was a 263,284 sq. ft. decrease compared to the -358,044 sq. ft. in Q2 2021.
  • Vacancy is still on the rise as the market continues to experience a combination of tenant downsizing and fewer expansions due to COVID uncertainties. Vacancy in Q3 2021 was up another 50 bps from last quarter, now at 25.1%.
  • Deliveries were materially down 62.5% to 404,350 SF in Q3 2021, but we are expecting a higher number of new deliveries in Q4 2021.
  • Space under construction decreased 3.6% to 3,567,331 sq. ft. since Q2 2021.
  • Quoted face rates were up slightly after increasing 120 bps from $26.40 to $26.52 in Q3 2021.