We are pleased to release a white paper authored by Dr. Peter Linneman, NAI’s Chief Economist. The topics covered by this paper, “Where Will U.S. Population Growth Occur? A Glimpse at 2020 and 2030”, include:
Please click here to view and download Dr. Linneman’s recent white paper, “Where Will U.S. Population Growth Occur? A Glimpse at 2020 and 2030.” |
Positive movement continues in the Phoenix multifamily market; investor transactions are on the rise, average rental rates have increased, and developers are continuing to invest in the market. With the market stabilizing after the recession, vacancies have continued to remain low and construction is increasing.
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Vacancy rates continue to decline locally in the Phoenix Metro area and on a national level. The average vacancy rate for retail property in the US fell to its lowest level in more than three years to 10.5%. The local retail market followed suit; the overall vacancy rate in Metropolitan Phoenix fell to 10.9%, the lowest it has been since early 2009. Retail sales in the U.S. are also headed in the right direction, up 0.5% and 0.4% in May and June, and up 5.7% over the last 12 months. While some areas still continue to struggle, overall the improvements in retail spending continue to boost the
CRE sector. As housing and employment also continue to rebound in the Phoenix area, positive momentum should carry the market back to where it was before the recession hit.
(FOR MORE DOWNLOAD THE ENTIRE MARKET REPORT BELOW)
