Commercial Real Estate & Business News – December 15, 2014

Economy Watch: Retail Sales, Household Net Worth, Unemployment Claims

The Census Bureau reported on Thursday that U.S. retail and food services sales for November came in at $449.3 billion, an increase of 0.7 percent from the previous month, and 5.1 percent above November 2013. The September-to-October 2014 percent change was revised from a gain of 0.3 percent to one of 0.5 percent. In making its calculations, the bureau adjusts for seasonal variation and holiday and trading-day differences, but not for price changes… Read more »

Arizona Economy in 2015: Economists See Headwinds ? and Growth ? in the New Year

In the fifth and sixth economic forums for the year, economists talked to East Valley Partnership members and the Southern Arizona business community on Thursday and Friday. The bottom line message is the same: Growth is headed up, albeit slowly, in 2015; but good signs are ahead for 2016… Read more »

UA?s Phoenix Campus Has Nearly $1 Billion Economic Impact

University of Arizona President Ann Weaver Hart and Phoenix Mayor Greg Stanton today announced that the economic impact of the UA?s downtown Phoenix academic medical center in 2013 was $961 million, according to a report released by nationally recognized consultants Tripp Umbach… Read more »

Valley Renters, Get Ready for Payments to Go Up

Anyone renewing a lease for a house, condominium or apartment in metro Phoenix likely will be facing a higher monthly payment. Home prices are stable if not down a bit in the Valley, but rents are on the rise. The average rent for a Phoenix-area house or condo is up 5.7 percent from a year ago, according to Arizona State University’s W.P. Carey School of Business. The typical apartment rent is up more than 5 percent, research from RealFacts shows… Read more »

Tucson Economy Should Improve More Quickly in 2015

The Tucson area economy is expected to grow 0.8 percent this year, slightly more than 1 percent in 2015 and 1.3 percent in 2016, he told about 500 gathered for the school’s annual economic forecast at the Westin La Paloma Resort and Spa. That’s about half the growth expected nationally. Tucson should be about on par with national growth by 2016, he said… Read more »