Today’s News 8-19-2025

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 shows. Construction boomed in response to high demand and price growth during the early years of the pandemic. But that hasn’t been enough to keep up…»

Seven office buildings across the Phoenix metro area amounting to 1.53 million square feet are trading hands in a $296 million deal. Southwest Value Partners acquired key Class A properties in downtown Phoenix, Scottsdale, the Camelback Corridor, Tempe and Chandler from Canadian firm City Office REIT Inc., in a deal that closed this week. City Office REIT took steps to sell off the portfolio as a condition of a pending merger deal with a U.S. hedge fund. Southwest Value…»

To lean into the future, Pinal County decision-makers are also wary of the past. The county, which sits in the southern half of the state between Maricopa and Pima counties, is one of the fastest-growing jurisdictions in Arizona and nationally. Its population is quickly approaching half a million people and is projected to grow to over 640,000 by 2032, according to the county’s 2024 labor market analysis. In a trend aligned with Pinal County’s goal to sustainably build a “diversified…»

Location: 1030 N. First St., on the southwest corner of Portland Street in downtown Phoenix. Description: A new apartment complex being built near Phoenix’s hopping Roosevelt Row Arts District will soon take residents on a trip through Mario Kart’s famed psychedelic track, Rainbow Road. Intersection Development, a downtown Phoenix-based developer, is constructing the 36-unit building, which gets its name and inspiration from the iconic video game course. Fitting in…»

The geography of American rental demand is being reshaped by forces that go well beyond simple preference, according to experts at Johns Burns Real Estate Consulting. As affordability challenges and economic uncertainty persist, more affluent tenants are increasingly choosing to rent within prime metropolitan markets, while ownership opportunities have shifted farther out into remote zones where prices remain accessible…»