Today’s News 8-19-2025
Metro Phoenix housing shortage hits 98,703 America’s housing shortage grew to an all-time high of 4.7 million units, according to a new Zillow® analysis of recently released Census data. This deepening housing deficit remains the prime driver of the nation’s housing affordability crisis. In Metro Phoenix, the housing shortage hit 98,703 in 2023, an analysis […]
Today’s News 8-15-2025
Hotel industry execs present rocky but optimistic outlook for 2025 “On the groups and convention side, our bookings are pacing up double digits, thanks to robust 2026 convention calendar that includes the return of [Conexpo-]Con/Agg. The Las Vegas Convention Center is spending $1.6 billion to renovate its legacy campus and expand the West Hall and […]
Today’s News 8-14-2025
Crescent Communities luxury developer to invest $433M in metro Phoenix Crescent Communities, which has invested $377 million in multifamily development in metro Phoenix since 2007, has plans to double down on its activity in the Valley by investing another $433 million. The Charlotte, North Carolina-based developer has been actively developing in the metro since 2012, […]
Today’s News 8-13-2025
Welcome to Old Town Scottsdale’s ‘tasteful’ era. How the district is changing Long known as a destination for college students (and those wishing they were still college students), a handful of new restaurant and hospitality developments aim to pivot Old Town Scottsdale away from nightclub culture to appeal to a broader range of demographics. “This […]
Today’s News 8-12-2025
Traditional office vacancy declines for first time in Phoenix since pandemic’s onset Following four years of steep occupancy loss, the Phoenix office market is finally showing signs of stabilization. While the medical office segment has been comparatively resilient over the past five years, performance among the Valley’s traditional for-lease office buildings has been disrupted. The […]
Today’s News 8-11-2025
Apartment Market Surges With Best Q2 Absorption on Record The multifamily housing market has set a new benchmark for demand, according to CBRE Research. Net absorption—a measure of new leases signed and occupied—climbed 44% year-over-year to 188,200 units, the highest second quarter figure ever recorded. This level is also 44% higher than the average for […]