Commercial Real Estate & Business News – August 5, 2024

U.S. commercial property prices arrested their series of declines in June after a year and a half of losses, MSCI Real Assets reported Thursday. The RCA CPPI National All Property Index was unchanged from a year ago and rose 0.6% from May. All sectors posted improved annual trends in June, with the exception of apartments…»

Nearly a third of consumers are cutting back on spending due to inflation, and a higher percentage say they have made changes to their financial priorities. That’s according to TD Bank’s new 2024 Consumer Spending Index, which found that 30% of respondents have been...»

Economic growth and demographics continued to bolster multifamily rents at the start of the third quarter. The average U.S. asking rent increased $4 to $1,743 in July, while year-over-year growth rose 20 basis points to 0.8%, according to the latest Yardi Matrix National Multifamily Report…»

Phoenix is one of the top markets in the United States for new hotel construction, according to a report released this week by Lodging Econometrics, a company that tracks hotel and lodging industry data. Currently there are 120 projects with a total of 15,627 rooms in the Valley’s hotel construction pipeline…»

According to the Realtor.com July housing data, the market is becoming more buyer friendly through a combination of rising housing inventory levels and price cut reductions. Homes actively for sale grew 36.6% in July 2024 relative to the same time last year, hitting a post-pandemic high for…»