Commercial Real Estate & Business News August 14, 2019

Phoenix in ‘Sweet Spot’ for Business Affordability, Employment Growth, Report Says Phoenix lands right in the “sweet spot” for the cost of doing business and employment growth, according to a Business Cost Index study done by global research firm IHS Markit Ltd. According to the index, it costs 1.1% less to do business in Phoenix compared with the national average, while employment growth…»
More Than Half of College Graduates Are Moving in with Parents, Instead of Renting, Survey Finds
More than half (54 percent) of young people about to graduate from college plan to move back home to live with their parents, according to a new report from Apartment Guide. “As recently as a few years ago, it was almost embarrassing to move back home with your parents,” says Brian Carberry, managing director for…»
Multifamily Market Sustains Positive Cycle, Yardi Matrix Reports
U.S. multifamily rents continued their impressive performance with a 3.4% year-over-year increase in July 2019, according to a new report from Yardi® Matrix. Leading gainers included fast-growing Southwest and South metros Las Vegas, Phoenix, Charlotte and Raleigh, N.C., Atlanta and Nashville, Tenn. Rent growth was also…»
Arizona Construction Industry Pays Steep Price as Tariffs Escalate
As hope for a trade deal between the United States and China faded once again this week, the construction industry is bracing for continued uncertainty and higher prices as tariffs on imports like lumber and heavy equipment remain in place. After talks failed this week, President Trump tweeted that he will impose an additional…»
Smaller Apartment Units Outperform the Market on Both Vacancy and Rents
Smaller apartment units are outperforming units with more square footage on rent, prompting developers to increase the number of smaller one-bedrooms in their projects, according to industry sources. The smallest 25 percent of one-bedrooms in the U.S. have lower vacancy rates compared to larger one-bedrooms, according to…»