DFW retail construction increased 10% quarter-over-quarter, with many new large-scale starts leading the trend. Most of this activity is concentrated in the northern suburbs with North Central Dallas and Far North Dallas accounting for 45% of new construction.
Christmas came early at Red Bird Mall in Southwest Dallas as UT Southwestern announced plans to create a new facility in the mall’s former Sears space. Not only is this great for the mall, but will be beneficial to the surrounding area as Southwest Dallas has historically been an underserved community.
Black Friday 2019 proved to be another strong shopping day in DFW, with strong employment and high consumer confidence contributing to another robust holiday season. Black Friday generated a total of $31.2 billion in sales nationally. However, the Saturday before Christmas was the busiest shopping day of the year, with $34.4 billion spent on this day alone. This marked the biggest shopping day in US retail history. Total retail sales this holiday season rose 3.4%, with e-commerce sales rising 18.8%, accounting for 14.6% of overall retail sales.
The DFW economy continued to post stable numbers through the rest of 2019, with the unemployment rate still low at 3.4%. Housing continued to shine in 2019, with Dallas maintaining its spot as the #1 market for new home starts, with builders starting 34,361 homes throughout the year.