Commercial Real Estate & Business News – July 8, 2024

Powell says inflation is showing signs of resuming cooling trend

Federal Reserve Chair Jerome Powell said Tuesday that inflation seems to be returning to the downward path that was seen late last year but that it was too soon for the central bank to make a move on interest rates. “Inflation, after pausing in the first quarter, shows signs of resuming its disinflation trend,” Powell said…»

More than half of Arizona homes are “equity-rich”

More than half of Arizona Homes considered “equity rich,” meaning the owner holds at least 50% equity, according to real estate data firm Attom. Why it matters: Home equity is an important tool many Americans use to build wealth and finance big expenses, from business startups to their next home.…»

Workforce Housing Demand Remains Positive in Select US Markets, Bucking National Trend

Despite a national trend of declining occupancy and rents in workforce housing, three major U.S. multifamily markets, Chicago, Miami and San Francisco, demonstrate that an overall multifamily supply and demand balance coupled with a wide difference in monthly rent between one- and two-star and four- and five-star…»

Industrial Prices Continue Upward Trend Despite Challenges

Industrial prices are nearing those of prices in the office market, driven by an industrial boom that began with COVID-19 and a market that has remained strong despite normalizing demand and muted transaction volume due to elevated interest rates. The average industrial sale price across the country …»

Phoenix metro ranks in top 20 in US for location of ‘prime’ office buildings, CBRE says

A new report by CBRE Group Inc. (NYSE: CBRE) found the Phoenix metro to be home to 25 properties — equating to about 2.1% of the office building inventory — that are considered “prime.'”The definition of a prime building is made up of factors including being located in a desirable area, built with high-quality construction…»