Market Intel

In recent years, Scottsdale, Arizona-based commercial real estate broker Ari Spiro estimates that roughly one-third of his calls have been from California property investors interested in buying Arizona offices, shopping centers, warehouses and apartments. But that interest has spiked in the pandemic. In the past several months the number of inquiries has climbed more than 50%, especially since Arizona began reopening businesses closed to curb the coronavirus even as large portions of the Golden State’s

Freddie Mac and Fannie Mae are on track to lend nearly as many dollars to apartment properties in 2020 as they did in 2019. They have even loosened rules created in the early months of the COVID-19 crisis that required new multifamily borrowers keep enough reserves on hand to ensure they could make loan payments for as long as 18 months. “These guys are going to do everything they can to backstop the market,” says

Once again, Phoenix is No. 1 in the nation in home price growth, with year-over-year price increases of 9% in June, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Phoenix price growth far outdistances the next two major metros: Seattle, with 6.5% year-over-year growth, and Tampa, Florida, at 5.9% price growth. Phoenix’s growth is now more than twice the year-over-year national increase, at 4.3%. Peter O’Neil, research director for NorthMarq,

While sectors of Arizona’s economy have suffered financial losses during the pandemic, the state is faring better than much of the nation, according to a leading economist. If Arizonans can stay masked, socially distanced and sanitized, it has a good chance for full recovery as soon as mid 2021, said the state’s heavyweight economic forecaster, George Hammond, a research professor and the director of the Economic and Business Research Center at the Eller College of

Since COVID-19 arrived in the U.S., the pandemic has shifted the economy and our way of life. Many of these changes are visible, as Zoom calls replace conference rooms, bedrooms become workspaces, and living rooms morph into gyms. While the pandemic impacts extend far beyond the confines of multifamily communities, the vast majority of this sector has pivoted as adeptly as any other industry. These changes are especially true when it comes to amenities, which

It’s been one of the ongoing head-scratchers of the pandemic: How are apartment rent collections holding up so well despite all the unemployment and predictions of doom? After all, it’s hard to imagine a scenario designed more effectively to crush rent collection. As tens of millions of Americans lost their jobs, warnings about mass rental defaults began almost immediately this spring. But the $600-per-week enhanced federal unemployment benefits kicked in, and that relief was credited