Commercial Real Estate & Business News – February 24, 2023

Phoenix Home Prices Holding Steady After Months of Decline

The average home price in the Phoenix metro remained flat between December and January after about six months of declines, according to Redfin data. Why it matters: Any relief from the sky-high home prices we saw a year ago is welcome, especially…»

Target to Invest $100 Million to Build Sorting Centers for Faster Deliveries

Target Corp. is making a big investment to expand its next-day delivery capabilities across major U.S. markets. The discounter said it will spend $100 million to expand its package-sorting network (dubbed sortation centers) to more than…»

FHA Makes 30 Bps MIP cut, Mortgage Industry Cheers

The Federal Housing Administration (FHA) on Wednesday morning announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut, widely anticipated by the industry, will result in…»

Hotels Are ‘Hottest’ Asset Class So Far in 2023

It’s been a tremendous start to 2023 for hotel investors who are enjoying record sales for quality assets in highly desirable and growing markets, according to a report from JLL. The sale of the Diplomat Beach Resort in Hollywood, Fla., was the…»

Housing Market Predictions for the Next 5 Years

The housing market has been rapidly evolving. Home prices surged in 2020 as mortgage rates plummeted, and over the past couple of years, we’ve seen a slight cooling of the market as mortgage rates increased. But what does the future hold?…»