Commercial Real Estate & Business News – August 23, 2021

Within the United States, both natural population growth and the number of people moving are on the decline in recent years, according to the U.S. Census Bureau. But that doesn’t mean all the country’s towns and cities are experiencing population slowdowns. The city with the…»

Rents grew 9.2% year-over-year in July, pushing beyond pre-pandemic levels, according to the July 2021 Zillow Real Estate Market Report.The monthly increase in the Zillow Observed Rent Index (ZORI) was the fastest observed by Zillow, which has been tracking data since 2015. In addition, Zillow estimates that,…»

Another “industrial park” is headed to Mesa.Where others have been small, medium and large, this one might be called “jumbo.”Picture 100 acres of farmland.Now picture those same 100 acres, covered with six “industrial” buildings.It’s a big, big project backed with big, big money:According to…»

Phoenix-area home prices hit another record in July, though some relief for buyers could be coming.The Valley’s median home price climbed to $405,000 last month, according to the Arizona Regional Multiple Listing Service. That’s up from about $400,000 in June and $315,000 in July 2020. But the area’s median is…»

Fannie Mae’s Economic and Research Group on Thursday said its full-year 2021 real GDP growth forecast was revised modestly downward. That’s due partly to the expectation that COVID-related disruptions to consumer spending and supply chains will more greatly hinder economic activity in the…»