Market Intel

Intel

Here’s The Arizona Economic Development Forecast for 2023

By Orion Investment Real Estate As 2022 winds down, the Arizona economic development sector has much to celebrate in the way of wins. According to the Arizona Commerce Authority (ACA), the state ranked No. 3 for economic outlook — a 10-spot jump from No. 13 the prior year. With manufacturing

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Intel

Arizona No. 5 Best State for Hiring as Crisis Worsens

By Orion Investment Real Estate A new study found Arizona is the No. 5 best state for hiring as the unprecedented hiring crisis worsens. CareerCloud today released a study on the Best States to Hire Workers using data from the Census Bureau, BLS, Tax Foundation, and the St. Louis Fed. The rankings were determined by analyzing five factors:

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Intel

Housing Affordability Taking a ‘Nosedive This Year’

Paul Bergeron A homebuyer must earn $107,281 to afford the $2,682 monthly mortgage payment on the typical U.S. home, up 45.6% from $73,668 a year ago, according to a recent Redfin report. Housing affordability took a “nosedive this year,” reaching all-time lows, according to Crystal Sunbury, real estate and construction

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Intel

Multifamily Rent Growth Up Slightly in October

Leah Draffen Average multifamily asking rents growth showed a minor increase in October, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rate was $1,727. Year-over-year rent growth was down to 8.2%, the lowest level since summer 2021 and from its 15.3% peak in the first quarter.

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Intel

Build-to-Rent Communities Offer Affordability Amid Rising Interest Rates

By Taylor Williams More Americans are looking for homes even as available housing shrinks. This dynamic is rapidly accelerating the demand for build-to-rent (BTR) communities. The United States has failed to build as many homes as needed to keep up with population expansion, especially in markets in and around growing

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Intel

Home Builders Turning into Home Sellers

By Paul Bergeron Homebuilders will take on fewer new projects next year as they focus on getting their existing projects sold, according to a new report from real estate brokerage Redfin. Twenty-nine percent of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any

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Intel

Record-High 29% Of Homes for Sale Are New Construction

AZ Business Magazine Twenty-nine percent of U.S. single-family homes for sale in the third quarter were new construction—the highest share of any third quarter on record, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up from 25% in the third quarter of 2021 and 18% in the

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Intel

There’s More Multifamily on the Way

By Erik Sherman There are changes coming to multifamily that may not seem so desirable in the short run, but which will help stabilize markets and the industry overall. “Data shows that there are more multifamily than single-family units under construction,” writes Nadia Evangelou, senior economist and director of forecasting

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