Quarterly Snapshot 4Q22 | Retail | Consumer Demand for Retail Holds Strong
The retail market in Houston appears to be well positioned for a possible economic recession. Leasing activity is strong, and landlords are raising rents in strong, high-demand market areas. Consumer demand has been notably high for home improvement, drive-thru, discount, pharmacy, and beauty concepts. Similarly, the largest move-ins over the next couple quarters will be grocery stores. This high demand allows developers to continue to bet on Houston's eagerness for new retail development.