Commercial Real Estate & Business News – December 12, 2014

Holiday Shopping Boosts US Retail Sales

U.S. retail sales perked up in November, as cheaper gas and an improving job market fueled a promising start to the holiday shopping season. Retail sales rose a seasonally-adjusted 0.7 percent, the most in eight months, the Commerce Department said Thursday. Falling gasoline prices dented gas stations receipts by 0.8 percent, but that appears to have freed up money that consumers took elsewhere… Read more »

Physical Retail Still King, Trump, Industry Leaders Tell NY National Conference

Physical retailers are thriving, as are the shopping centers they inhabit, and both will be around for a long time to come, said leading real estate executives Monday, at ICSC?s New York National Deal Making… Read more »

Phoenix Home Building Forecast for 2015

Home building across metro Phoenix could be flat or climb by as much 30 percent during 2015. New home permits will range from 12,000 to 16,000 in 2014, according to a consensus estimate presented at Scottsdale-based Land Advisors 6th annual forecast on Wednesday… Read more »

Apartment Development Can?t Curtail Arizona?s Lost Construction Jobs

The wave of apartment complexes being built across metro Phoenix does not create enough new construction jobs to replace those lost by the slow housing and office space markets. It only takes 38 percent of the number of construction workers to build apartments and condominiums as it does to build a single-family home, according to the National Association of Builders and economists from the University of California, Los Angeles… Read more »

Phoenix Had Largest Decline in Foreclosures Among Big US Cities

Phoenix had the steepest decline in foreclosures in November compared to a year ago among the largest U.S. metro areas, according to a new report. Foreclosures decreased 38 percent in Phoenix in November versus November 2013, accordnig to RealtyTrac, a real estate research firm… Read more »