Commercial Real Estate & Business News – January 24, 2024
MBA Forecasts 29% Rise in CRE Loan Volume for 2024 Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion. That’s according to an updated baseline forecast released Tuesday by the Mortgage Bankers Association…» NMHC: Apartment Market Continues […]
Commercial Real Estate & Business News – January 23, 2024
Nearly 50 Phoenix Metro Industrial Buildings Delivered at the End of 2023 Dozens of new industrial buildings added to metro Phoenix’s inventory in the fourth quarter while also increasing the market’s vacancy rate. Nearly 9 million square feet delivered in the fourth quarter to bump the market’s vacancy rate to 8% — double the rate […]
Commercial Real Estate & Business News – January 22, 2024
Renting Still Less Expensive Than Owning in Nearly All of US “Affordable housing” is becoming almost an oxymoron for many American households, whether they seek to rent or buy. The cost of renting or buying a three-bedroom home gobbles up more than one-third of wages in most county-level housing markets, and in some cases much […]
Commercial Real Estate & Business News – January 19, 2024
How Foreign Direct Investment is Ramping Up in Greater Phoenix During her 2023 International State of the State address, Gov. Katie Hobbs highlighted Arizona’s No. 1 national ranking in foreign direct investment (FDI) for the second year in a row, with the state attracting nearly $32 billion of investment from international companies in 2022. Some […]
Commercial Real Estate & Business News – January 18, 2024
Holiday Sales Hit New Record — So Do Full-Year Sales Despite inflation and high interest rates, consumers ramped up their spending in December, helping to end the holiday season and full year on an upbeat note. Core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion, according to […]
Commercial Real Estate & Business News – January 17, 2024
Here’s What GPEC Experts Predict for Arizona’s Economy In October 2022, the Wall Street Journal reported that a survey of more than 60 economic forecasters expected the U.S. to enter a recession in 2023 with inflation continuing to run high and employers cutting jobs as the economy contracted. Az Business magazine sat down with the […]