Commercial Real Estate & Business News – May 29, 2020

Phoenix Is Officially Open for Business
The Phoenix market has officially opened for business, with all retailers allowed to serve customers. While some retailers have decided to stay closed or offer only limited service by their own choice, most are completely open and actually seeing activity from consumers. While there are no…»
Ducey Announces $600M in Coronavirus Relief Funds
The Governor’s Office is providing nearly $600 million in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan announced today by Governor Doug Ducey. The plan includes $441 million in direct, flexible funding to local cities, towns and counties…»
Developer Proposes Single-Family Home Rental Project in Phoenix
Phoenix planning officials next week are scheduled to weigh a proposal by a real estate developer to build a single-family residential rental home project in Camelback Ranch. The Empire Group of Companies, based in Scottsdale, Arizona, filed plans in March to build 194 single-family, for-rent…»
Phoenix Real Estate Entered 2020 on a High, Which Should Ease the Pandemic’s Market Impact
Metro Phoenix’s housing market slowed quickly in the early days of COVID-19 but is showing signs of bouncing back. New listings and home sales cancellations climbed in March when many homeowners and homebuyers were worried about making mortgage payments…»
Jump In Mortgage Refinancing Leads To Record-Breaking Loan Volume For Lenders
Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders over the past two months. Rates continued their downward spiral in April to 3.48%, down from 3.65% in March. Mortgage software giant Ellie Mae…»