Commercial Real Estate & Business News – October 6, 2020

8 Arizona Cities Among Top 20 for Bouncing Back Most
The employment market continued to recover in August, as the latest jobs report shows that the national unemployment rate has fallen to 8.4%, which is 43% below the peak of 14.7% during the height of the COVID-19 pandemic. To provide more context at the…»
Metro Phoenix Home Prices Hit Another Record Amid Bidding Wars. Here’s What’s Behind the Housing Market
Many metro Phoenix houses priced below $500,000 are drawing multiple offers within hours of being listed for sale. That means a lot of potential homebuyers are walking away from open houses or new listings defeated. Most sellers are…»
Here’s Where Experts Say the Real Estate Opportunities will be Post-Pandemic
The long, hot summer of 2020 just added to the misery index in Arizona. The state has managed to still move forward with many new developments, and the pace of building has remained steady. There are signs all around the Phoenix market that this…»
Arizona’s Poverty, Unemployment Rates Dropping
For the eighth straight year, Arizona’s poverty rate dropped in 2019. That’s according to new data released by the Census. It now sits at 13.5%, Cronkite News reports. At the same time, we’ve seen the latest unemployment numbers in…»
Construction Starts on Major Glendale Industrial Building
Construction has started on a 350,000-square-foot speculative industrial development along Loop 303 in Glendale. Developers Barclay Group and W.M. Grace Cos. plan to complete the…»