Commercial Real Estate & Business News – August 15, 2024
Why 2025 Could be a Pivotal Year for US Hotels For U.S. hotels, the recovery of group demand has helped counterbalance softer transient travel across 2024. Could group demand continue to surge in 2025? Likely yes, but Kelsey Fenerty, manager of analytics at STR, said at the Hotel Data Conference that the next full year […]
Commercial Real Estate & Business News – August 14, 2024
Budget-Strapped Consumers Are Driving Down Inflation Consumers often see themselves as victims of economic forces. But they have more power than individuals realize. First, 69% of GDP is consumer spending. Without individuals living their lives — and paying their bills — there wouldn’t be much of any economic growth…» Record Supply Additions Pour Into Phoenix […]
Commercial Real Estate & Business News – August 13, 2024
Buckeye Considers Approval for Three Major Industrial Projects The city of Buckeye could help kickstart three major industrial projects, pending final approvals at a planning commission meeting. The planning commission is scheduled to vote Aug. 13 on site plans for a speculative industrial project called Sunrise Commerce Center, the proposed…» Multifamily Developers Become More Pessimistic […]
Commercial Real Estate & Business News – August 12, 2024
AZRE Forum Experts Optimistic About State of Commercial Real Estate Jennifer Stein, director of the economic development services department for the City of Peoria, shared an interesting experience at Thursday’s 10th Annual AZRE Forum that sums up the state of the Metro Phoenix commercial real estate industry. “When you trip over Secret Service…» LA Investor That […]
Commercial Real Estate & Business News – August 9, 2024
Mortgage Rates Fall to Lowest Point Since May 2023 Mortgage rates fell to their lowest point in more than a year, a slide that some analysts say could buttress the housing market and fuel a wave of refinancings. The 30-year fixed-rate mortgage averaged 6.47% as of Aug. 8, down from 6.73% last week and from […]
Commercial Real Estate & Business News – August 8, 2024
Have Cap Rates Peaked? Cap rate expansion may have very well peaked, but uncertainty will delay sales volume recovery until 2025, according to CBRE’s cap rates survey for the first half of the year. Treasury yields remained volatile during the first half of 2024, reacting to economic data that…» Multifamily Rent Growth Rate Ticks Upward […]