Commercial Real Estate & Business News – September 17, 2024

Phoenix outpaced the nation both in wage growth and employment growth last year, as cooling inflation and a more balanced job market nationwide can be expected to carry into next year. Economists speaking at the Greater Phoenix Chamber’s Economic Outlook discussed…»

Sanctuary on 51st, a 217-unit build-to-rent development in the Laveen Village neighborhood of Phoenix, has sold for $61.4 million. Arizona-based Brown Group sold the property, located at 7100 S. 51st Ave., to Brunton Management in Newport Beach, California, in…»

Areas of the country with the largest bump in house prices were the Middle Atlantic and New England states, with Vermont posting the biggest gain, at 13.4% over the year, followed by West Virginia, at 12.3%, Rhode Island, at 10.1%, and Delaware, at 10.0%. Prices in…»

As doubts mount over a possible recession hitting and the Federal Reserve prepares to lower interest rates for the first time in four years, the future of Arizona remains bright. “Recession odds are low, but they’re not zero,” said Steve Wyett, a…»

With a rate cut a virtual lock-in for Wednesday, markets facing the weekend have guessed 55% to 45% chance that it will be a quarter point over a half point, according to CME FedWatch. Even last Thursday, the odds were stacked more heavily toward…»