• In Houston, employment data reflect an improvement in October followed by a weaker November and early December, according to a report by the Dallas Fed.
  • Houston office net absorption ended Q4 2020 at -335,000 sq. ft., which was not as steep as it had been in previous quarters of 2020.
  • However, deal volume, a forward-looking indicator of gross absorption, was down by 31% year-over-year when comparing the full year of 2020 to 2019.
  • Sublease space, a metric to watch in recessionary periods, is now over 6.4 million sq. ft. for the entire Houston market based on CBRE Research’s tracked dataset.
  • The construction pipeline, which includes build-to-suits, fell slightly at year-end and now sits at 4 million sq. ft.