Unemployment in the Oklahoma City metro area remained near its lowest point in decades to end Q3 2019. According to the Bureau of Labor Statistics, the Oklahoma City MSA recorded an unemployment rate of 2.9% in September 2019.
Although net absorption remained positive for the year, absorption dipped into negative territory for the first time in 2019, with 75,773 sq. ft. of negative absorption recorded during Q3 2019.
The investment sales market turned in another strong quarter in Q3 2019, accumulating a quarterly sales volume of $41,833,473 throughout the quarter. Over half of the investment sales that occurred during Q3 2019 came from the Moore/Norman submarket.
Food and beverage options continue to expand throughout Oklahoma City as new dining establishments and restaurant concepts open. Between 2013-2018, employment in full and limited service restaurants increased by 12%, according to the Kansas City Federal Reserve.