Commercial Real Estate & Business News – February 9, 2021

Neither COVID-19 nor the big job losses tied to it are slowing rising housing costs in metro Phoenix. The median home price is poised to hit a new record, and rents climbed faster here than in many other big U.S. cities in 2020. Home prices and rents kept climbing as the Phoenix area lost more than 51,000…»

A lot of markets got crushed during the Global Financial Crisis. Many of them had a run-up in both housing deliveries and subprime loans in the mid-2000s. When the economy crashed, they got hit exceptionally hard. But now, in the COVID crisis, these markets like Atlanta, Phoenix and a number of Florida…»

The Sun Belt region has a sunny post-pandemic economic outlook, but some cities may shine brighter than others when it comes to future apartment demand, according to Camden Property Trust. The Houston-based apartment REIT, with more than 45,000 units nationally, is most optimistic…»

Nationwide, 27.8% of Redfin.com users looked to move to another metro area in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 25.5% in 2019, a 9% year-over-year increase. The increase is driven by people leaving…»

Over the course of three decades, the East Valley town of Gilbert went from what people then described as “nothing but jackrabbits and rattlesnakes,” to the place where international companies chose to locate and hire thousands of people. The growth has been due in part to extensive preplanning…»