The housing market has begun to recover after hitting a low point in the second week of November, according to a new report from Redfin, the technology-powered real estate brokerage. The number of Redfin customers requesting first tours has improved 17 percentage points from the November trough, and the number of people contacting Redfin agents to start the homebuying … [More]
Despite Some Cooling in Q4 2022, Phoenix Industrial Market Remains Very Strong
The Phoenix industrial real estate market remained one of the strongest in the country during the fourth quarter of 2022, with rental rates continuing to climb and vacancy levels remaining stubbornly low, even as investment activity dropped significantly, according to new research from Transwestern Real Estate Services (TRS). Transwestern tracks industrial properties in nine … [More]
2022 Proved to be Year of Transition for Residential Real Estate, Says Report
As market cools, home sales soften, economic conditions in Phoenix expected to help offset market challenges and headwinds
From enormous gains to an anticipated tempering, a lot has happened over the course of 2022. That’s according to a report based on the most recent ARMLS data released by Phoenix REALTORS® that outlines the state of the residential real estate market and where it is anticipated to go in 2023. “When we look at where we began – mortgage rates near historic lows, fierce buyer … [More]
Report Reveals Latest Construction Trends in North American Cities, Phoenix Sees Cost Increases
International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its Quarterly Cost Report providing an on-the-ground picture of construction activity in 14 key North American markets and data-driven insights into the industry for the fourth quarter of 2022. As 2022 comes to a close, the construction industry continues to face a variety of … [More]
Phoenix Added More Than 19,600 New Apartments since 2012, 18% Increase in the Past Decade
New year, new challenges. As rentals are a red-hot commodity these days and older buildings are almost filled up, in their latest report, Rent Cafe uncover the top 50 cities in the U.S. where renters have the best chances of moving into newer, larger apartments located in coveted areas. Phoenix ranks 5th among Arizona’s best cities for finding new apartments. However, … [More]
Transportation, Workforce, Water among the 2023 Policy Priorities for AAED
Transportation and broadband infrastructure. Clear development agreements. Make Arizona more competitive. Ensuring a qualified workforce. Water conservation. Those are some of the main policy priorities for 2023 being embraced by the Arizona Association for Economic Development (AAED), according to Executive Director Carrie Kelly. “Our 2023 policy priorities are part of … [More]
U.S. News & World Report Announces the 2023 Best Jobs
U.S. News & World Report, the global authority in rankings and consumer advice, today announced the 2023 Best Jobs. The rankings offer a look at the best jobs across 17 categories – from sectors such as business, health care and technology – to help job seekers at every level achieve their career goals. Outcomes take into account the most important aspects of a job, … [More]
Arizonans Wagered More Than $618M in October Sports Betting
Arizonans wagered over $618 million in October of 2022, according to a new report by the Arizona Department of Gaming. This represents a 27.3% increase when compared to October of 2021. “It is clear Arizona’s sports betting industry continues to grow, with over $132 million more dollars wagered in October of 2022 when compared to the same month of 2021,” said Ted Vogt, … [More]
Most Americans More Likely to Stay in Hotels in 2023 vs. 2022, Says Survey
60% of Americans report being more likely to stay in hotels this year than in 2022, and hotels are the top lodging choice among those planning to travel for business and leisure in the next three months, according to new national Hotel Booking Index survey research commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning … [More]
Annual Home Price Growth Slows to Two-Year Low in November, Says Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2022. Year-over-year home price growth ended its 21-month streak of double-digit momentum in November, posting an 8.6% gain, the lowest rate of appreciation in exactly two years. Although … [More]
