Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NAI Report: San Antonio Retail Market Stays Resilient
A recent report from NAI Partners found that the San Antonio retail market has shown signs of demand improvement this year, as leasing volume increased in the fourth quarter by 46% to 654,000 square feet, compared to Q4 2020 at 449,000 square feet.
Vacancies in the city have remained tight and net absorption has stayed positive for five consecutive quarters. With 814,000 square feet delivered in 2021, 866,000 square feet under construction and another 3 million square feet of proposed projects that have been announced.
On the housing side, the San Antonio Board of Realtors reported that home sales are still moving forward in the area, with the metro seeing only a 1% decrease in home sales for a total of 3,529 homes sold in December. The average home sales price rose 15% to 363,075 while the median price increased 19% to $311,000.
Overall, the unemployment rate in the San Antonio metro area fell to 4.5% in November, the lowest since March of 2020.
- ◦Economy
