Commercial Real Estate & Business News June 24, 2019

Matrix Monthly Report: U.S. Multifamily Rents Rose $5 to $1,442 in May U.S. multifamily rents rose by $5 to $1,442 in May 2019, marking a $14 rise over the last three months, according to the latest Matrix Monthly report by Yardi Matrix. At the same time, year-over-year rent growth fell by 50 basis points, down to 2.5% for May. Rents have risen 1.2% this year to date-the lowest rent growth recorded…»
Valley’s New Home Market Sees Demand Surge
For the past eight months, homebuilders in the Valley have experienced lower demand for new homes than the previous year. But that streak has been broken.From mid-May through mid-June, new home sales shot up 16% year over year, said Jim Belfiore, founder of Phoenix-based Belfiore Real Estate Consulting and author of…»
ORION Leader Kush Joins Scottsdale Bond Campaign Committee
Larry Kush, senior vice president of ORION Investment Real Estate’s land division, has joined the Scottsdale bond campaign’s steering committee. The bond campaign favors three Scottsdale bond measures planned to make community investments throughout Scottsdale to benefit residents, according to a press release…»
The Continuing Case for Apartment Rentals
Apartments have been the darling of real estate capital markets for the past seven-eight years. This deep into an outstanding run, some investors have begun to worry if the clock is approaching midnight for Cinderella. However, an examination of underlying demand dynamics suggests that the U.S. will require an extraordinary…»
Despite Losses in Retail, Arizona’s Jobless Rate Remains Unchanged
The state’s jobless rate remained unchanged for May at 4.9% despite continued losses in retail trade. New figures from the Office of Economic Opportunity show 1,100 fewer people employed in retail sales in May than the month before. And employment numbers remain below where they were a year earlier. Particularly hard-hit have been…»