Commercial Real Estate & Business News – January 4, 2023

What a difference a week makes when it comes to the 30-year fixed rate mortgage, which rose for the first time since mid-November, hitting 6.42% for the week ending Dec. 29. However, homebuyers, sellers, and housing analysts are more interested in…»

After the last three years, there are few real estate professionals brave enough to make confident predictions about what will happen in 2023 — other than to say once again to expect the unexpected…»

The anticipated slowdown in multifamily performance arrived last month, as rents drop and the sector clocked its lowest year-over-year growth since mid-2021, according to the latest Yardi Matrix National Multifamily Report. U.S. asking rents fell…»

National retail developer Vestar is proposing to build a $130 million commercial center and repurpose a historically significant farm property in Laveen, one of 15 villages within the city of Phoenix. The nearly 400,000-square-foot retail center, to be called…»

Metro Phoenix’s housing market took a turn in mid-2022 and slowed from its record-breaking pace as interest rates jumped. But the cooling could be over for at least a few months. The Valley’s median home price dropped…»