Commercial Real Estate & Business News – November 30, 2020

NRF: Holiday Sales to Rise 3.6% to 5.2% in ‘Strong Finish’ to 2020
The National Retail Federation issued an upbeat holiday forecast despite the ongoing COVID-19 pandemic, citing a strong stock market, rising home values and record personal saving rates. Sales during November and December will increase between 3.6% and 5.2% over 2019 to $755.3 billion…»
Multifamily Market Sentiment Shows Improvement from Recent Lows
According to the National Association of Home Builders’ (NAHB’s) Multifamily Market Survey, confidence in the market for new multifamily housing has increased in the third quarter, but uncertainly remains. The Multifamily Production Index (MPI) rose 11 points to 48 compared with the previous quarter…»
Tempe Apartment Sales Beats Last Year’s Volume
Multifamily sales volume in Tempe, Arizona, has already surpassed 2019’s total and is approaching a record high. Neither the pandemic nor the thousands of luxury apartments set to deliver over the next few quarters have deterred interest in this high-demand submarket. Private and institutional…»
Buyers Get Aggressive About Affordable Housing
The widespread layoffs and pay cuts stemming from the COVID-19 pandemic have made the need for affordable housing more critical than ever. “The vast majority of low-income households are rent-burdened,” says David Leopold, senior vice president and head of Affordable Housing at Berkadia. “Demand for units…»
Here’s Why Experts Are Bullish on Banking for 2021
At his core, Paul Hickman, president and CEO of the Arizona Bankers Association, is a hopeful person. He believes that good intentions, ambition, and hard work will get you to where you’re going in his industry. And, when it comes to his positive outlook, Hickman carries optimism over to what lies ahead for Arizona’s…»