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Posts Categorized: Market Update

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

Market Summary Cromford Report

General Real Estate, Market Update

Michael Orr Arizona Journal Columnist Owner, Cromford® Report Director, W.P. Carey School of Business   2016 started off in a much better position than in January 2015. Almost every indicator showed us that we have a stronger market than 12 months ago. Supply remains tight at the entry level but is abundant at the higher… Read more

Commercial Slow & Steady Wins The Race

Commercial Corner, Market Update

Molly Carson Vice President, Development Ryan Companies US, Inc.   Some believe there are global and domestic issues to be concerned about in 2016 and the not so distant future: the pending presidential election, historically low oil prices, an unstable Chinese economy, rising interest rates and so on. These concerns may keep you awake at… Read more

Market Outlook

Industry News, Market Update

Michael Orr Arizona Journal Columnist Owner, Cromford Report Director, W.P. Carey School of Business   In 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,… Read more

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