Commercial Real Estate & Business News January 22, 2020

Apartment Outlook 2020: Riding the Zenith Carl Dranoff is like the M. Night Shyamalan of multifamily real estate development. Rooted in Philadelphia since receiving his MBA from Harvard in 1972, Dranoff has succeeded through multiple economic cycles by adopting a maverick mentality and a cut-no-corners approach to developing high-end, placemaking properties across…»

Arizona Developer Is Cracking the Attainable Housing Code
Greenlight Communities is the first developer to focus solely on attainable housing rental product. The developer is addressing the nationwide housing crisis, and already has two projects underway in Scottsdale, Arizona. Greenlight has been working on attainable housing for a decade, and has now created a strategy for ground-up…»

Housing Market Challenged by a Dearth of Construction Workers
One of the biggest challenges facing the U.S. housing market is a dearth of construction workers that’s keeping homebuilders from meeting the demand of an expanding population, according to Federal Reserve Governor Michelle Bowman, one of the people who votes on the central bank’s monetary policy. A shortage of properties…»

Housing Market in 2020: Here’s What to Expect in Arizona
Even a rise in interest rates cannot slow Arizona’s red-hot housing market. “The modest uptick in mortgage rates over the last several months reflects declining recession fears and a more sanguine outlook for the global economy,” says Sam Khater, chief economist for Freddie Mac. “Due to the improved economic outlook, purchase mortgage…»

Phoenix Home Sales up 20% Year-over-Year
According to RE/MAX’s December 2019 report, December posted a record finish to a year and a decade, with a year-over-year increase in home sales of 13.5% in the 54 metro areas covered by the report, which also showed Phoenix home sales with a dramatic increase. That was the highest increase of any month in 2019, and…»