Commercial Real Estate & Business News – March 24, 2025

Over 900 new apartments may be developed in Buckeye’s rapidly growing Verrado area. Buckeye City Council on March 18 unanimously approved rezoning a 46-acre site from planned residential to planned area development, marking a key step in Greenlight Communities’ plans to build 934 residential units just a block away from a Costco…»

Existing-home sales, including single-family homes, townhomes and for-sale apartments, rose 4.2% in February to a seasonally adjusted annual rate of 4.26 million units, the National Association of Realtors said Thursday. Industry analysts had expected a monthly decline of 3%, CNBC reported. Year-over-year, sales slid 1.2%, NAR…»

Rents have been declining for nearly two years in the top 50 metros, but low multifamily permitting may send rents higher in the future, according to the February rent report from Realtor. Only 294,000 multifamily units were permitted last year, well below the 318,000 units approved in 2020 at the peak of the pandemic…»

Buyers and sellers didn’t jump back into the housing market as expected in February, but lower mortgage rates should encourage them in March, according to the latest market report from Zillow. Mortgage rates fell by about a quarter of a point over the course of February and have staggered further downward in March, now reaching lows not seen…»

PHOENIX — Hilton Scottsdale Resort & Villas recently wrapped up the first phase of a massive $24 million renovation project. The resort at 6333 North Scottsdale Road now has 25 upgraded two-bedroom villas. The new and improved units, which are called The Villas at Hilton Scottsdale Resort, are now available for booking…»