The general vacancy rate is now 5.4%, a 1.8-point increase fromthe same quarter in 2000.

Other numbers are even more staggering. The net absorption inthe multifamily market for the last quarter was down to 1,400units, compared to 11,270 units at the same time last year. Thatfactor, along with new construction, is the cause of the nearly2-point jump in overall vacancies. Henrdicks' report also findsthere are currently approximately 50 million sf of availablepre-existing space in the area, as well as 8 million sf of spaceunder construction. On the average, the office vacancy number isnearing 20% in the metro area.

Despite the apparently grim distinctions between this year'sthird quarter and that of 2000, Hendricks officials sayDallas/Ft.Worth will be able to make a speedy recovery without agreat deal of suffering. One reason for that is "Dallas is such adiversified economy and our job market has been so robust over thepast few years," Hendricks & Partners' Michael Lewis tellsGlobeSt.com from his Dallas office.

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