Commercial Real Estate & Business News – July 1, 2021

As the economy takes steps to recovery, the office sector continues to shift. Hybrid work scenarios and the yet unknown way companies will ultimately utilize office space are keeping investors in a holding pattern. Despite this wait-and-see approach, high-quality…»
For a second consecutive week, U.S. hotel demand was at 90% or more of 2019 levels thanks to leisure travel, according to the latest Market Recovery Monitor from STR, CoStar Group’s hospitality analytics firm. Room demand for the week of June 13-19 topped 26 million room nights, which was..»
Multifamily markets with a more educated tenant base posted weaker rent growth during the COVID-19 pandemic, as remote work opportunities remained concentrated among college-educated workers. In a new report, YardiMatrix senior analysts Ben Bruckner and Andrew Semmes note that...»
The Phoenix metro is closing in on two uninterrupted years with the fastest-rising home prices in the nation, according to the latest S&P CoreLogic Case-Shiller Indices. The Valley’s home prices jumped 22.3% year-over-year in April — more than 2% higher than their rise in…»
We’ve all read the headlines about the increase in home values across the country — Arizona in particular. But 28 Arizona cities have seen an increase in typical home value in excess of 20 percent over the last year. El Mirage leads the state with a 28.3% one-year increase in…»