RE Optimistic Though “Trump Bump” Fades
By Roland Murphy for Arizona Builder’s Exchange With the uncertainty of the U.S. presidential election over and promises of major infrastructure investment soon to come, the national real estate market experienced a pronounced bump in optimism between midyear 2016 and year end. Halfway through 2017, though that optimism has tempered somewhat, the industry experts have […]
15-Story Dwtn Mesa Apts, Hotel Planned
By Jessica Boehm for The Arizona Republic One of the pioneers who helped reinvigorate downtown Phoenix nearly a decade ago with a risky condo project wants to take another risk — this time in downtown Mesa. Habitat Metro wants to bring a 14- or 15-story hotel and apartment complex across the street from the Mesa Arts Center. […]
The Top Issues Affecting Real Estate
By Roland Murphy for Arizona Builder’s Exchange In an extensive, 3,700-word report, The Counselors of Real Estate, recently published their views on the major issues facing both the industry and the world at large. While we certainly encourage you to read and digest the full information and detail the group worked so diligently to assemble, […]
Phoenix Multifamily Remains Strong
By Roland Murphy for Arizona Builder’s Exchange “Phoenix is riding a wave of high performance” in the multifamily market, according YARDI Matrix’s Spring Analysis. Rents in Phoenix rose 5.1 percent year over year, significantly outpacing the national 2.7 percent rate. There are 9,000 units under construction, with another 16,000 in planning stages. Phoenix remains less […]
ABI: Phoenix MSA 1Q 2017 Multifamily Review
By Thomas M. Brophy, ABI Director of Research The Phoenix MSA multifamily market had another stellar first quarter fueled by both robust jobs and population growth. In fact, Maricopa overtook Texas’ Harris County as top spot for population growth adding 81,000 people, an average of 222 new residents per day, between July 1, 2105 to […]
Multifamily to Keep Growing in 2017
By Roland Murphy for Arizona Builder’s Exchange While growth is expected to slow a bit in 2017, a report issued last month by Freddie Mac Multifamily projects the rapid resurgence in the market won’t show signs of stopping in the near future. The slow, steady economic growth of 2016 supported a heavy degree of demand […]
Phoenix Multifamily is “On Fire”
By Roland Murphy for Arizona Builder’s Exchange Like sizzling daytime summer highs and chilly overnight winter lows, the Phoenix-area multifamily market runs hot and cold. Currently, the market is “on fire”, according to the Yardi Matrix Winter Report for 2017. Rents Rents in Phoenix rose 5.9 percent year-over-year through November. The national average was 4.4. […]