Commercial Real Estate & Business News – February 22, 2022
Happy “TWO”sday! Will the Valley’s Housing Market Crash This Year? Experts Weigh In Despite rising prices and mortgage rates, the Valley’s red-hot housing market won’t be crashing in 2022, panelists from the Phoenix Business Journal’s recent residential real estate panel said. Job growth in metro Phoenix is one factor that will keep…» How Trends Shaping […]
Commercial Real Estate & Business News – February 18, 2022
Commercial, Multifamily Lending Hits Yearly Record With $1 Trillion in Sight Commercial and multifamily mortgage loan originations hit a record high last year at $900 billion and may not be done climbing, according to the Mortgage Bankers Association’s quarterly survey released this week. Even while the capital markets are widely anticipating…» Freddie Mac, Fannie Mae […]
Commercial Real Estate & Business News – February 17, 2022
Commercial and Multifamily Lending to Hit Record Highs in 2022 The Mortgage Bankers Association (MBA) released its 2022 forecast for commercial multifamily mortgage borrowing and lending at the annual Commercial/Multifamily Finance Convention & Expo this week in San Diego. It is predicting mortgage borrowing and lending to…» Here’s how GPEC has Helped Metro Phoenix Economy […]
Commercial Real Estate & Business News – February 16, 2022
Former Paradise Valley Mall Project Gets a new Name and Logo as Redevelopment is Underway The redevelopment going up where Paradise Valley Mall once stood will simply be called PV. The company behind the project, Red Development, unveiled the name and a simple gray logo on Tuesday. The 43-year-old mall in northeast Phoenix was…» Venue […]
Commercial Real Estate & Business News – February 15, 2022
Multifamily Demand Normalizing, But Rents Will Still Climb Apartment demand may be normalizing, but rents are nonetheless expected to continue to climb in 2022. New research from the National Association of Realtors notes that “even if net absorption is normalizing, absorption (demand) is still outpacing deliveries (supply) across…» Phoenix Ranks No. 6 for Industrial Space […]
Commercial Real Estate & Business News – February 14, 2022
Phoenix’s Economy Added More Than 120,000 Jobs in 2021 Phoenix added 122,700 jobs over the course of 2021, according to the most recent data from the Bureau of Labor Statistics. Professional and business services was the largest contributor, with the sector growing by more than 30,000 jobs. As travel and tourism…» ‘HOLY COW, I GOT […]