Office fundamentals remain challenged despite modest improvement in vacancy, according to the latest Yardi Matrix national office report. Physical occupancy failed to increase, demand stayed weak, and employment across office-using sectors remained flat. Loan maturities are also adding pressure, with roughly half of outstanding office debt set to mature in the coming years, much of it originated
With a week left until Christmas Day, holiday sales are trending upward from last year. New analysis from Salesforce indicates that during the first 45 days of the 2025 holiday season (Nov. 1 and Dec. 15), global online sales have risen 7% year over year, reaching a total of $1.033 trillion from $849 billion. In the U.S., online sales are up 4% year over year to $238 billion. While average selling price has increased
Developers are closing on vacant land to prepare for a shortage of multifamily housing units as existing supply dwindles over the next couple of years. On Dec. 17, an entity related to Houston-based Hines paid $16.6 million in cash for 14.6 acres in Peoria, according to Tempe-based real estate database Vizzda LLC, while Los Angeles-based Sunstone Two Tree closed on 21 acres in
The National Multifamily Housing Council’s (NMHC’s) quarterly survey of leading construction and development firms in December finds apartment starts remaining relatively stable compared with three months ago. According to the survey, conducted between Dec. 4 and 15, 43% of respondents reported starts to be relatively unchanged, while 25% said their firms started fewer projects and 26%
Seasonal cooling is finally seeping into the housing market after an unseasonably active fall, according to the latest market report from Zillow. Price cuts from sellers dropped back to normal levels from near-record highs; a rare instance of buyers losing a bit of leverage in a year when many housing trends moved in their favor. “Affordability is still a hurdle for home
The U.S. economy grew at a rapid rate of 4.3% in the third quarter of this year, according to an estimate released Tuesday by the federal Bureau of Economic Analysis. The estimate, which had been delayed by the government shutdown, shows that the economy remained resilient over a three-month period that saw fewer new tariffs announced and consumers shopping
The commercial real estate industry is emerging from what one large portfolio manager describes as one of only three “material repricings” in the past half-century, but this one looks different from the early 1990s and the global financial crisis. Rather than being driven by overbuilding and excessive leverage, the most recent downturn has been tightly linked to a sharp move higher
Transactions picked up noticeably in the latter part of 2025 as borrowing costs eased, yet the coming year’s trajectory is still very much in play, Marcus & Millichap reports. The firm notes that three 25-basis-point cuts to the federal funds rate have not fully filtered through the financial system, a process that typically takes months, but they have already helped pull the secured overnight financing rate (SOFR) down by 50 basis points to 3.93
Economic improvement in the United States will continue in 2026, say the nation’s purchasing and supply management executives in the December 2025 ISM Supply Chain Planning Forecast, formerly known as the Semiannual Economic Forecast. Revenues are expected to increase in 16 of 18 manufacturing industries and 16 of 18 services-sector industries. Capital expenditures are expected to increase by 3 percent in the manufacturing
This year didn’t go according to plan. Developers, investors and tenants alike had to pivot fast as economic, policy and fundamental headwinds hit commercial real estate from all angles. But the dust may settle in 2026. What is in your crystal ball?
All types of purchasers, from private capital to institutional groups, want to take advantage of the property sector’s strong fundamentals. In JLL’s second-quarter “Retail Market Dynamics” report, “resilience” was the word used to describe the national retail investment landscape in the first half of 2025. Transaction volume reached $28.5 billion, a 23 percent increase over the same period a year ago. The figure also outpaces the
Following the pandemic’s aftermath, the multifamily sector experienced significant shifts, including record-breaking rent growth, plunging vacancies, expanding construction starts, and an increase in household formation. These days, things are different. Rents are declining. So are construction starts, while vacancies creep upward. All in all, a correctional shift is underway. Industry experts told Connect CRE that, barring a black swan event
After several quarters of softening demand and slower rent growth, multifamily transaction activity is not only holding up—it is surprising even some of the most plugged‑in players. Rather than pausing, a cohort of sellers has accelerated plans to bring assets to market ahead of the new year and buyers with flexible capital are stepping in to fill the bid‑ask gap. That is the backdrop Kelli Carhart, President and head of multifamily capital markets at
Multifamily starts were relatively unchanged compared to three months ago, according to the National Multifamily Housing Council’s December 2025 NMHC Quarterly Survey of Apartment Construction & Development Activity. Twenty-five percent of respondents reported that their companies started fewer projects than three months ago, 26% said they started a greater number of projects and 43% reported that starts were at the same level as
Office remains one of the least favored asset classes on many investors’ lists due to the overhang of space nationally and a cloudy long-term outlook for the product type. But a handful of recent development projects are proving there’s a robust market for deluxe tailor-made office space, and a few markets even justify breaking ground on Class A+ space without a tenant. Based on our research, there are 12 large office development
More executives are planning to add office space in 2026 than in 2024. Seventy percent of real estate leaders at large companies said their 2026 strategy includes adding more space, versus 56% in 2024, according to a survey from Visual Lease. Of those seeking additional space, 44% were going to expand their existing footprints, 44% were going to use coworking spaces, and 38% were going to add new locations, the study found. However
The Arizona housing market, like the overall economy, is telling two conflicting stories. The high end of the market continues to sell at a healthy pace while setting continued record prices. This is supported by buyers who aren’t constrained by financing and are making decisions based on wants rather than needs. At the same time, entry-level and mid-tier properties are, on average, lingering on the market, with sellers facing more price reductions
With a week left until Christmas Day, holiday sales are trending upward from last year. New analysis from Salesforce indicates that during the first 45 days of the 2025 holiday season (Nov. 1 and Dec. 15), global online sales have risen 7% year over year, reaching a total of $1.033 trillion from $849 billion. In the U.S., online sales are up 4% year over year to $238 billion. While average selling price has increased 6% globally and 7% in
Old Town visitors, residents and neighboring businesses, look up – and meet Scottsdale City Center. Though not by any means all of the piece, this is a big chunk of the massive, unprecedented “Scottsdale Collection” approved by a razor-thin 4-3 council vote Dec. 7, 2020. Current Councilwomen Solange Whitehead and Kathy Littlefield cast two of the three votes against the project. Five years later, the 3-acre Scottsdale City Center
While Arizona utilities invest in new gas pipelines and other large projects, some energy experts say smaller-scale devices — many located in residential homes — will play an equally significant role in addressing the state’s growing power demands. Distributed energy resources refer to a broad range of technologies that can produce and store energy close to where it is actually being used. That includes rooftop solar panels, in-home
Multifamily developer Hines purchased 14.6 acres in Peoria for a 336-unit apartment community. The project is located within The Trailhead, a mixed-use master-planed development at 83rd Ave. and Happy Valley Road. “This multifamily property will not only elevate the community with a distinctive luxury living experience but also meet growing demand for high-quality housing in the Happy Valley Corridor,” Chris Anderson, senior
As the end of the year nears, The Show is taking some of the biggest issues facing Arizona — what’s happened in those arenas in the last year and what’s next for them in the new year. Let’s zoom in on housing. From affordable housing to backyard casitas to barriers to homebuilding — housing is never far from the headlines in Arizona. And now, it’s getting even more interesting as we’re seeing the Valley’s seemingly unending
While a familiar refrain in 2024 was “stay alive till 25,” the multifamily industry didn’t see the recovery expected this year. However, the year still brought some wins to the industry and 2026 is positioned for improvement, says Bob Pinnegar, president and CEO of the National Apartment Association. “It’s not the recovery year that many people had thought, but I think we’re on a path to where things are going be better as we go into 2026 and then 2027,” he says. Positives on the advocacy front, according to Pinnegar, include bipartisan
After several quarters of softening demand and slower rent growth, multifamily transaction activity is not only holding up—it is surprising even some of the most plugged‑in players. Rather than pausing, a cohort of sellers has accelerated plans to bring assets to market ahead of the new year and buyers with flexible capital are stepping in to fill the bid‑ask gap. That is the backdrop Kelli Carhart, President and head of multifamily capital markets at CBRE, is seeing across the platform. Despite well‑telegraphed headwinds
Phoenix City Council on Wednesday unanimously approved a major mixed-use development that will almost double the footprint of the Taiwan Semiconductor Manufacturing Company in north Phoenix. Some residents say the zoning change puts industry too close to their homes. Vice Mayor Ann O’Brien said despite heavy opposition from local residents with environmental concerns, she also received an equal amount of comments in support. “It will create space for commerce, services, and community amenities that serve