Commercial Real Estate & Business News July 8, 2019

This Surging City Ranks No. 2 in Nation for Home Price Gains, No. 1 in Apartment Rent Growth Phoenix is solidifying its position as one of the top markets in the country for home price appreciation and apartment rent growth, while other primary markets lose steam. Home prices in Phoenix rose 6% year-over-year in April, the second-highest increase among all major metro areas in the United States, according to the…»
Reis: Apartment Vacancy Rate Holds at 4.7%, Effective Rent Rises 1.3% YOY
The apartment vacancy rate remained flat at 4.7% in the second quarter, marking a zero net change from one year ago, according to Reis’s Preliminary Apartment Trends report for Q2 2019. The vacancy rate has remained near 4.7% since Q1 2018, after climbing up from a low of 4.1% in Q3 2016. The national average asking rent…»
Here Are the 10 Retail Markets With the Highest Vacancy Rates
The health of retail real estate may be best described with the aphorism: “Where you stand depends on where you sit. “Many cities around the country have vacancy that’s tighter than the national average of 4.5% in spite of national retailers closing stories, big and small.Other cities have vacancies above the national average. But that’s…»
The Next Housing Bubble Could Come from Technology
A decade after the housing crash, it is now possible to buy or sell a house with the click of a mouse. If the practice catches on, it could lead to a far more efficient and affordable housing market – or another devastating bubble.So-called iBuying (for instant buying) involves firms using algorithms to provide sellers with fixed-price…»
Housing Supply Continues to Fall Short of Need
The number of renter households fell for the second consecutive year in 2018, but rents are rising at twice the rate of overall inflation. There’s also a troubling supply issue at the lower end of the market, where the number of units renting for under $800 fell by 1 million in 2017, bringing the total loss from 2011 to 2017 to 4 million, according…»