Commercial Real Estate & Business News 6-3-2025

Consumer confidence improved in May after five straight months of declines as Americans grew more hopeful about prospects for a trade deal between the U.S. and China. In preliminary readings for May, The Conference Board’s Consumer Confidence Index increased by 12.3 to 98.0, up from 85.7 in April. The Present Situation Index — based on…»

Office conversions and demolitions in 2025 will exceed new construction for the first time in at least 25 years, CNBC’s Diane Olick reported Monday, citing CBRE data. Across the largest 58 U.S. markets, 23.3 million square feet of space is slated for demolition or conversion to other uses by year’s end, compared to completed development of 12.7 million…»

For some multifamily developers, raising rents has been difficult due to the influx of supply that has entered to keep up with the demand. But in many markets, including Phoenix, construction has been starting to slow. In fact, according to a first-quarter report from Northmarq, deliveries in Arizona’s capital started to peak in the fourth quarter, as 3,288 units…»

Location: Country Club Drive and Main Street in Mesa Description: A five-story 198-unit apartment complex with 19,000 square feet of commercial space along 2 acres at Country Club Drive and Main Street is under construction. The project, called Residences on Main, sits on a roughly 2-acre parcel at the corner of Country Club Drive, which was left…»

April home sales grew 11.3% over March but were 1.4% lower year over year, according to the REMAX National Housing Report. The month-over-month home sales growth continued a steady trend since January for the 51 metro areas surveyed. New listings rose 6.2% over March and 7.5% year over year. Inventory similarly increased 7.0% over March…»