Migration to the Lone Star State is driving a retail construction boom.

That’s according to new data from commercial real estate services firm Colliers , which found that between January 2021 and January 2025, Texas recorded a positive net domestic migration of 0.9%. Although construction slowed in 2020 amid pandemic-driven uncertainty, by early 2025, more than 17 million sq. ft. was under construction, with growth fueled by the state’s largest cities of Dallas, Houston, Austin and San Antonio.

Colliers notes that the Texas retail boom contrasts with the national landscape, where construction activity remains historically low. Just 6 million sq. ft. of retail space was delivered nationwide in the second quarter of 2025, bringing total space under construction to 47.9 million sq.

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