Despite Inflation and Staff Shortages, Omaha’s Retail Market Stays Strong
Rising interest rates, labor supply issues and surging inflation continue to cause concern across the United States. According to the U.S. Labor Department, consumer prices surged 8.6 percent in May, which is a new 40 year high.
Even with these concerns, the Omaha retail market continues to show its resiliency. The market ended the second quarter of 2022 with over 80,000 square feet of positive absorption. In addition, the retail vacancy rate dropped 90 basis points from 7.9 percent in the first quarter of 2022 to 7 percent this quarter. Retail sales in June in the U.S. rose 1 percent, which is more than was forecasted.