The greater Pittsburgh retail market remains strong despite low inventory and interest rates
The fourth quarter of 2022 continued to reflect what most industry experts predicted: external factors such as increased interest rates and persistent inflation rendered adverse effects on the retail market. However, rental rates managed to stay consistent in Q4 compared with the previous quarter. Additionally, new construction inventory increased considerably from the prior three quarters, much of it occurring in the Greater Downtown and Westmoreland County submarkets.
Read more about the latest retail trends and statistics in the Pittsburgh market within our full report.