2016 Third Quarter Greater Phoenix Office Highlights Below are excerpts from CBRE Marketview, Office, Q3 2016 and Collier International’s Research & Forecast Report Greater Phoenix/Office 3Q 2016. Vacancy In quarter 3 (Q3) 2016, net absorption in Metropolitan Phoenix reached 801,250 square feet (s.f.). For the fifth consecutive quarter, Tempe led all submarkets with 621,885 s.f. …
The National Association of Realtors (NAR) recently polled student debt holders who had not defaulted on their loans. The majority of them graduated from a four-year public or private college. Below is a summary of some of the more interesting findings of the study. 43% of those polled had between $10,000 and $40,000 in student …
Vacancy Rates Trended Lower for Fifth Consecutive Year in 2015 The chart below presents statistical data in the fourth quarter of 2015 for Class A, Class B and Class C office space in Metro Phoenix related to total inventory, vacancy, vacancy rates, net absorption, and average rental rates. Note that the Class A category had …
Many economists believe this year’s surge in homebuilding is beginning to look more and more like a real recovery of the Valley’s new-home market. New Home Permits Issued in July 2015 are 55% Higher than Prior Year The Phoenix Housing Market Letter published by RL Brown and Greg Burger reports that: New home sales were …
“First-time homebuyers hurt by rising prices and tougher credit standards are disappearing from the market, slowing the pace of the three-year recovery. The decline of these buyers, many of whom are young and non-white, also threatens to widen the wealth gap between owners, who benefit from appreciation, and renters.” -Thomas Lawler, Former Fannie Mae Economist. …
“Bubbles have quite a few things in common, but housing bubbles have a spectacular thing in common, and that is every one of them is considered unique and different.” – Jeremy Grantham, co-founder of GranthamMayo van Otterloo , a Boston based asset management firm On February 14, 2014 the National Association of Home Builders …
Last Friday Forbes ranked the Phoenix-Mesa-Glendale Metro area (“Phoenix Metro Area”) as the 8th fastest growing large city in the nation, behind Austin, Houston, Dallas, Raleigh, Salt Lake City, Seattle and Provo. Although population growth was only 1.0% in 2012, it is expected to increase 2.7% in 2013. As a frame of reference, Maricopa County’s …
1.9 Million Square Feet of Positive Absorption in 2012 Compared to Negative Absorption of 152,647 in 2011 Metro Phoenix Vacancy and Lease Rates The Metro Phoenix retail market has recorded positive absorption in five of the last six quarters. At year end, the market absorbed 1.9 million square feet of space compared to negative absorption …
The Stats Are Impressive! • The median price of a home increased over 30% to $149,000. • New home sales prices were up 4.4% from a year ago. • Normal re-sales prices were down 2.0%. • Investor flip prices were up almost 18%. • Short sale prices were up over 10%. • REO prices were up about 33%. • Bank owned sales …
Second Quarter 2012 Positive News!!! Vacancy rates decrease for the ninth consecutive quarter Vacancy rates are lowest since the third quarter of 2008 Build -to-suits represent 70.5% of all current construction Speculative construction is underway for the first time since the third quarter of 2008 Vacancy Rates • Industrial vacancy rates decrease from 13.9% (2011) to …