Commercial Real Estate & Business News – February 19, 2021
Phoenix Ranks No. 6 Among Hottest Multifamily Markets New research shows that Phoenix is the sixth hottest U.S. market for multifamily sales over the last decade. Over the past decade, the price-per-unit (PPU) for multifamily properties surged 156%, reaching nearly $160,000. This increase surpassed both median home sale prices and rental rates. The latest…» Phoenix […]
Commercial Real Estate & Business News – February 10, 2021
Why US Office Demand Is Likely to Slump 15% Post-Pandemic Green Street has encapsulated two major trends driving the office sector right now to provide a tangible (and grim) number for office demand post-COVID: -15%.COVID-19 has wrought a slew of changes to the sector, with social distancing stabilizing densification, or less square feet per worker, […]
Commercial Real Estate & Business News – February 9, 2021
New Residents Push Up Metro Phoenix Home Prices, Rents Neither COVID-19 nor the big job losses tied to it are slowing rising housing costs in metro Phoenix. The median home price is poised to hit a new record, and rents climbed faster here than in many other big U.S. cities in 2020. Home prices and […]
Commercial Real Estate & Business News – February 8, 2021
Phoenix Leads Nation with Biggest Net Inflow in 2020 Nationwide, 27.8% of Redfin.com users looked to move to another metro area in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 25.5% in 2019, a 9% year-over-year increase. The increase is driven by people leaving…» At 70%, […]
Commercial Real Estate & Business News – February 5, 2021
CRE Needs That Third Stimulus Round While the second stimulus gave the US economy essential support, John Chang, SVP and director of research services from Marcus & Millichap says a third stimulus is even more important. “If a third round of stimulus is passed, that’s good for real estate,” Chang said in a new video. […]
Commercial Real Estate & Business News – February 4, 2021
Peoria Announces Plans for its First Regional Hospital at Site Where Unfinished Hospital was Recently Razed Peoria may land its first full-service hospital nearly a decade after construction of one began, ran out of money and stood as a partially built skeletal framework for years. Demolition of the unbuilt eyesore began in late October, and […]