Commercial Real Estate & Business News – August 28, 2013

Multifamily Demand Outpaces Supply

As home prices and mortgage rates rise, it will become more difficult for potential homebuyers to purchase a home in light of today’s tighter lending standards. With homeownership no longer an option for many, demand for rental properties is on course to keep outpacing housing supply, investors in the space say. In fact, a minimum of 240,000 new apartments each year is needed to meet expected demand levels for the next seven years… Read more

Home Prices Across U.S., Arizona Continue to Strengthen

Home prices throughout the U.S. continue to get stronger with prices increasing from May to June in all 50 states and major metropolitan areas, according to new pricing information from Jacksonville, Fla.-based Lender Processing Services… Read more

Big Builder Activity in Verrado, 367 Lots Acquired in Two Days

5 Builders have acquired lots in future phases of Verrado in sales totaling $25M+ in just two days at the close of August. Most of the purchases are within Phase 3 South- which totals 634 lots on 207.62 acres and was final platted on August 9th, 2013. A portion of the lots – phases 3.408 & 4.505 – are located in a different phase of Verrado… Read more

Multifamily Sector Continues to Lead Commercial Real Estate Resurgence

All four sectors of commercial real estate continue to experience growth, but at different rates, the National Association of Realtors said today. The Association’s quarterly commercial real estate forecast sees vacancy rates for commercial property decreasing by 0.2 percentage point over the next year, but office vacancy rates are unlikely to match the improvement in the retail and industrial sectors where vacancies are expected to fall by 0.6 point. Multifamily properties are already experiencing low vacancies with demand supporting rapid rent increases and that is likely to continue… Read more

Commercial Real Estate Markets Show Steady, Moderate Growth

Vacancy rates generally are tightening in commercial real estate sectors with modest rent growth, according to the National Association of Realtors quarterly commercial real estate forecast… Read more