Today’s News 7-28-2025

Residential construction starts increased 4.6% in June to a seasonally adjusted annual rate of 1.32 million units, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported Friday. A 30% monthly increase in apartment starts to an annualized 438,000 units was responsible for the month-over-month gain, as single-family starts declined 4.6% from May…»

The average minimum-wage worker in the United States must work 116 hours per week—nearly three full-time jobs—to afford a modest two-bedroom rental home, reports the National Low Income Housing Coalition (NLIHC). The nation’s “housing wage” has increased to $33.63 for a modest two-bedroom apartment this year, according to the organization’s latest “Out of Reach: The High…»

It costs $534 to build a single square foot of commercial space in New York City, the most expensive place on the planet for new construction, according to Turner & Townsend. The cost of construction is expected to keep rising in 2025 — prices for commercial building materials ticked up by 0.2% in June alone. The escalating prices are widening the gap between a handful of…»

A highly skilled and stable tech talent pool plays an important role in the performance of office markets across regions and the country. Emerging tech hubs and established headquarters vary in labor market performance and opportunities, with hybrid work and more affordable living costs driving population growth trends, according to Colliers’ July U.S. tech trends report…»

Slower demand from buyers has more homes for sale now than at any time since 2019, according to the latest market report from Zillow. With homes lingering on the market and less competition for them, a long-anticipated balance of power between buyers and sellers looks to have finally arrived. As a result of that, Phoenix is among the Top 5 U.S. cities seeing the most home…»