2020 Q4 DFW OFFICE MARKET REPORT

Overview

After unprecedented declines in the labor market due to the pandemic and subsequent lockdown, the local economy has made big strides in adding back many of the jobs lost during 2020. Like most of the country, the Dallas–Fort Worth economy saw a drastic spike in unemployment (from 3.1% at the end of 2019 to 6.1% as of November 2020) and job losses (96,100 year over year) as the COVID 19 lockdown in early 2020 brought most of the economy to a temporary standstill. Since May, however, DFW’s payroll numbers have rebounded significantly, yet still stubbornly below levels seen in February, before COVID 19 measures took effect. Read on for more details as we delve into various submarkets and economic conditions.