Dallas-Fort Worth Retail Market Report
Furniture, Fitness Headline Absorption as Household Gains Jolt Demand
The influx of new residents cues need for home furnishings. Net in-migration to the Metroplex has averaged 73,500 new residents per year since 2012, encouraging suburban sprawl as core areas become increasingly densified. To satisfy heightened demand for outlying residences, builders are developing large subdivisions, especially in the north suburbs. Permits for private housing units in Dallas-Fort Worth reached a pandemic-era high of 6,800 in February 2022, up nearly 50 percent relative to the same month in 2020. As people purchase and move into homes, they often need to fill them with furnishings. This is stimulating leasing demand by furniture chains. The largest commitments during the past two quarters came from At Home, taking up a pair of 100,000-plus-square-foot plates in North Dallas and Garland, as well as Campos Furniture, occupying 95,000 square feet near the Galleria in Farmer's Branch.