Investing.com — Federal Reserve Governor Christopher Waller reiterated his support for an interest rate cut at the September meeting, citing weakening labor market conditions. “I think we need to start cutting rates at the next meeting, and then we don’t have to go in a locked sequence of steps,” Waller said Wednesday in a CNBC interview. “We can kind of see where things are going, because people are still worried about tariff inflation.” Waller indicated that the
Arizona has been a reliable and long-standing national leader in job growth. But so far this year, the state has taken a big step backwards. Through the first seven months, Arizona has ranked 46th in bringing in new jobs. Despite the steep drop, it doesn’t indicate yet that the state is spiraling toward a recession. But it does surprise economic experts and signal a bit of a slowdown. There is still a bright side to The Arizona Republic’s annual employment report. Job growth can be seen
New apartment construction in the U.S. continues to be elevated in 2025, with an estimated 506,353 units expected for delivery by the end of the year, Yardi’s RentCafe reported. Although the figure is lower than the estimated 518,000 new units delivered in 2024, it remains significantly higher than the annual totals for each year since 2015. “Accordingly, even with the historic wave now cresting, the volume of new deliveries remains considerably higher than average
Nearly 1,000 acres of the sprawling Red River Ranch property once owned by Hollywood icon John Wayne have been sold to a developer planning to build a massive master-planned community that could be incorporated into a larger master plan with tens of thousands of homes. CLB Real Property Holding Co. LLC, an entity tracing to Tempe-based W Holdings, paid $29 million for 925.46 acres to a partnership between Scottsdale-based El Dorado Holdings Inc. and
TSMC Arizona has broken ground and begun construction this month on a planned 15-acre Industrial Reclamation Water Plant (IRWP). The IRWP is designed to achieve “Near Zero Liquid Discharge” which means the company will have the ability to reuse nearly every drop of water. At start-up, the IRWP will reach 85% recycling rate with a plan to reach 90% or better. The start of construction on the IRWP reflects the company’s commitment to sustainable operations and coincides
Metro Phoenix renters signing leases right now could get a break. Rents are down in the Valley, according to new research. One-bedroom renters are seeing the biggest declines. The median rent on a one-bedroom Phoenix-area apartment has dropped almost 8% to $1,220, according to the latest Zumper National Rent Report. That decline is from August 2024 to August 2025
Americans are on the move. In 2024, a total of 25.87 million Americans (or 7.8% of the U.S. population) moved to a new home, whether to buy their first house, to leave the family nest for the first time, or simply to seek a change of scenery. MovingPlace has created a report which looks at the most popular U.S. ZIP codes so far in 2025 by analyzing 6.3 million moves, including the Top
Tempe-based Amkor Technology Inc. will break ground at its brand-new factory location Sept. 2 after Peoria’s City Council hastily – and unanimously – approved a land swap and new development agreement.. A special meeting was held on Aug. 28 to approve the deal, the day after the city won a state trust land auction for 834 acres in north Peoria where it has been planning to
PHOENIX – Society Swan, the latest venture from noted local restaurateur Sam Fox, is set to debut next month at Scottsdale Fashion Square. Reservations for the new restaurant, which is taking over a two-level space formerly occupied by Kona Grill, are now available ahead of the Oct. 15 opening date. “Society Swan is all about bringing a little glamour to everyday
To conduct our first-ever real estate agent survey, ResiClub partnered with Zoodealio, a cash-offer platform and iBuyer-management software designed for real estate agents. Among the 238 agents who took the survey, half (50%) have been real estate agents for 15 years or more. The Zoodealio-ResiClub Real Estate Agent Survey was fielded between July 28 and August
Federal Reserve Governor Christopher J. Waller, who cast one of two dissenting votes at the July meeting of the Federal Open Market Committee, reiterated his support for a reduction in the central bank’s benchmark interest rate. Speaking Thursday evening at the Economic Club of Miami, Waller said, “Since I last spoke on the economy and monetary policy on July 17, economic data have reinforced my view of the outlook and my judgment that the time has come
An estimated 506,353 apartments are expected to come online this year. While it’s lower than the over 640,000 units delivered last year, it’s still above the annual totals recorded each year since 2015. Based on Yardi data, RentCafe.com breaks down the top regions and metros for new multifamily construction in 2025. The South, which has seen strong migration trends since before the pandemic, leads with over half the national total. Top destinations
Amkor Technology Inc. plans to change sites for its huge West Valley factory — but it’s not moving far. Until now, Tempe-based Amkor has been poised to build its $2 billion semiconductor chip packaging and testing facility in the master-planned community of Vistancia, that attracted growing opposition from area residents along the way. It’s now planning to relocate the plant to a swath of land the city is setting up as the Peoria Innovation Core, following an Arizona
Mesa has inked a deal to bring commercial development, including a Sprouts, to 6.6 acres at the northeast corner of Ellsworth and Ray roads in Eastmark. Council last week unanimously approved the development agreement with Common Bond Development Group Mesa LLC for the proposed Eastmarket, which calls for 55,630 square feet of retail, the 23,200-square-foot specialty grocer Sprouts and 278 parking spots– well above the 202 that is required
A 200-acre site in southeast Mesa is planned to bring luxury retail and a resort hotel called Legacy Park. Commercial developers Vestar and landowner Pacific Proving LLC are partnering to build a multi-billion-dollar project along Williams Field Road and State Route 24. Southeast Mesa residents have long yearned for high-end dining and retail to land in the area. Over the past year, the city has reprioritized its focus on retail recruitment
For some multifamily developers, raising rents has been difficult due to the influx of supply that has entered to keep up with the demand. But in many markets, including Phoenix, construction has been starting to slow. In fact, according to a first-quarter report from Northmarq, deliveries in Arizona’s capital started to peak in the fourth quarter, as 3,288 units hit the market by the end of March. With net absorption at 3,750 units, that marked the first time in
As you consider investing in commercial real estate, you may quickly find opportunities in core property types like office, multifamily, retail, industrial, and development. Successful investors will also be aware of market fluctuations and how they might be advantageous to their business plan. Today there are also broader shifts shaping the real estate landscape. If you have the Insider’s Edge, you’ll be able to spot new opportunities and use them to maximize returns
The city of Peoria was the successful bidder for 834.5 acres in today’s State Land Public Auction with a final bid of $46.7 million. In December 2024, the city applied to Arizona State Land Department to bring this property to market, which is located within the Peoria Innovation Core (PIC), northwest of the intersection of Loop 303 and Lake Pleasant Parkway. The growth of the North Valley driven largely by TSMC and Arizona’s continued economic growth
Update: This story was updated on Aug. 28 to reflect another drop in mortgage rates to 6.50%. Mortgage rates hit a new on Thursday for 2025 — now at 6.50% — despite President Trump’s attempt to fire Fed Governor Lisa Cook on Monday, which many said would drive up bond yields and mortgage rates this week. I completely understand that this is a complex and confusing topic. On this episode of the HousingWire Daily podcast, I discuss why I believe
Cap rates may have reached their peak, according to a CBRE survey of 200-plus brokers released Monday. The survey also reported a slight compression in the first half of 2025, with the all-property average cap rate narrowing nine basis points to 6.84% at midyear amid volatility in Treasury yields and the announcement of a broader regime of tariffs than was expected. “While macroeconomic uncertainty persists, we’re seeing clear indications that cap rates have passed
The developer of the long-belabored Ritz-Carlton Paradise Valley resort is “bound and determined” to finish the project, an attorney representing him said. Five Star Development, led by Jerry Ayoub, sued Madison Realty Capital, the lender of a $585 million loan on the project, alleging that Madison’s actions have derailed the project, preventing further progress on the resort. Madison has started foreclosure proceedings on the property. The lawsuit was filed before
The world’s largest golf management company is expanding into a recently revamped headquarters after signing one of the Phoenix area’s largest deals so far this year. Troon, which manages more than 900 golf properties worldwide, finalized a deal to nearly double its Scottsdale, Arizona, headquarters as tenants across the United States commit to larger blocks of space. The company will be relocating to one of two buildings at the Inisio at Kierland campus, where
Taiwan Semiconductor Manufacturing Co. broke ground on a 15-acre industrial reclamation water plant that will increase the chipmaker’s wastewater recycling rate up to 90% at its north Phoenix fab site. TSMC’s industrial reclamation water plant is designed to achieve “near zero liquid discharge,” meaning the company will have the ability to reuse nearly every drop of water. The IRWP will support TSMC’s two fabs at its north Phoenix site with capacity to expand to
Although apartment construction in 2025 is shifting heavily to the South — now accounting for more than 50% of all expected completions — the Phoenix metro area pierced the top 10 dominated by Southern locations and secured the title of the 4th busiest apartment builder in 2025. Here are the details: The Phoenix metro area is set to complete 21,188 new apartments in 2025. That’s 5,500 units behind the podium, but it’s still among the only four metros