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Posts Categorized: Market Update

Pathway To Purchase

General Real Estate, Market Update

  The Arizona Department of Housing recently announced the launch of Pathway to Purchase. This is a new program for Arizonans statewide looking to become homeowners in select cities. With the escalating increase in rents, many creditworthy renters are finding it more and more difficult to save for a down payment. Pathway to Purchase gives… Read more

Market Summary

Market Update

Michael Orr Journal Columnist, Founder and Owner, Cromford® Report   The first quarter of 2016 got off to a slightly slow start but began to accelerate hard in March. The first quarter ended with Maricopa County unit sales for single family and condo homes up 12 percent from last year. The median sales price rose 8… Read more

Commercial Mortgages in Arizona

Commercial Corner, Market Update

Rocke Andrews President, National Association of Mortgage Brokers   Commercial mortgages in Arizona avoided much of the publicity and outcry of their residential brethren. However, it was clear to see plenty of retail and office properties were vacant and for sale. Smaller sites as well as the larger malls experienced disappearing occupants and missed payments. Many… Read more

Phoenix Metro Apartments: An Investment and Development Viewpoint

Industry News, Market Update

  Joseph Meyer President & CEO, Meyer Development & Construction Services, Ltd.   Drive around town and you can’t seemingly go more than a mile without encountering another newly completed apartment project – or one that’s under construction. At least that’s the case in the East Valley where distinct pockets of swank new apartments are fetching… Read more

Arizona Multihousing Legislative Progress

Market Update, Property Management

Tom Simplot President & CEO, Arizona Multihousing Association   Fifty years ago, the Arizona Multihousing Association (AMA) was formed after a group of apartment operators joined together to promote and advocate for a fair and competitive housing market. Today, the mission of the AMA remains the same in protecting the interests of ethical rental housing providers… Read more

Market Summary

Market Update

Michael Orr Journal Columnist Founder and Owner, Cromford® Report   During 2015 the Greater Phoenix housing market gained strength from February through July with tight supply below $250,000 and healthy demand for the mid ranges between $250,000 and $500,000. The high-end luxury market also had an excellent first half, but lost a lot of momentum… Read more

Multifamily: Responding to Demand

Industry News, Market Update, Property Management

John Kobierowski Senior Managing Partner, ABI Multifamily   Thomas M. Brophy Director of Research, ABI Multifamily     As of the end of 2015, the Phoenix metro multifamily market surpassed $3.8 billion in total sales volume. This is up 34 percent Y-O-Y and almost 265 percent from 2010 sales volume reaching a total of just over $1… Read more

Mortgage Bankers Association Arizona Update

Industry News, Market Update

Joel Kan Associate Vice President, Industry Surveys and Forecasting Mortgage Bankers Association   In the Mortgage Bankers Association (MBA) most recent Mortgage Finance Forecast, revisions to national mortgage origination estimates for 2015 through 2018 were made. The 2015 originations total was revised from $1.49 trillion to $1.63 trillion including upward revisions of purchase originations for… Read more

The Courage To Thrive

Industry News, Market Update

Rick Murray CEO, Arizona Small Business Association   Once a frontier state, specific to mining and agriculture, Arizona has since thrived over the decades. Arizona is now home to over 400,000 registered small businesses in industries such as technology, medicine, finance, and real estate. With Phoenix ranked as 14th in start-up companies1 we are seeing more… Read more

Destination Marketing Drives Arizona’s Economy

Industry News, Market Update, Special Interest

Debbie Johnson Director, Arizona Office of Tourism   The results speak for themselves: marketing Arizona as a vibrant travel and tourism destination drives our state’s economy. It’s the only industry producing revenue in all 15 counties of our state. In 2014, Arizona’s travel and tourism industry generated $20.9 billion in direct visitor spending. The majority of… Read more

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