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
Commercial property prices continued to rise in November, with the RCA CPPI National All-Property Index increasing 1.6% from a year earlier, MSCI Real Assets said Thursday. However, price growth has been stalling in recent months, with apartment pricing retreating in November, and the annualized pace of growth from October suggested a gain of 0.1% overall. With the exception of multifamily, the major property types saw annual pricing gains in November. For office, suburban assets experienced a 2.7% increase
Numbers were up for single-family home sales in October, according to the latest year-to-date data from Phoenix REALTORS®. Phoenix once again outpaced the national housing market in several different categories. “Year-to-date closed sales, pending sales, new listings and median sales price all increased,” said Christy Walker, board president of Phoenix REALTORS. “These data are indicators of the strength in the Phoenix market.” The October data show Greater Phoenix with a 3.8% increase in closed sales compared
The future of the former Fiesta Mall site is starting to come into focus. The group developing the site announced Dec. 17 that a women’s health campus will anchor the first phase of a new development at the site. The developers of the project said the first phase would include centers that focus on women’s sports needs, aging and longevity, menopause, hormone replacement therapy, behavioral health, outpatient clinics and speciality care. Until recently, the land was dubbed Fiesta Redefined — a proposed mixed-use development that was set to
Chandler Fashion Center is positioned to become the East Valley’s premier dining destination with a project that elevates the center’s culinary and retail mix inside and out. Today Macerich (NYSE: MAC) – one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets — announced that the center is launching a redevelopment initiative to reinvigorate the dining and entertainment district near the Harkins Theatres on the south side of the property. “Chandler Fashion Center has a long history as a vibrant
Queen Creek may not be the first name that comes to mind when people think of Arizona, but its booming growth has started to attract national attention. The suburb 45 minutes southeast of Phoenix landed on four separate lists of the best and most up-and-coming places to live in Arizona in 2025. April Anderson is the owner of Queen Creek Real Estate, and over the past decade has seen the town go from a place that felt like “the boondocks” to a busy community filled with brand new housing developments. In 2024, Queen Creek was the third fastest-growing
U.S. retail real estate delivered another year of resilience in 2025, marked by a steady balance between supply and demand, despite pressure from increased store closings. Under the surface, market-by-market performance varied more than in any year since the pandemic, as the disparate effect from store closures and diverging demographic trends created a larger gap between the winners and losers. With Sun Belt cities still dominating the rankings amid demographic growth and business-friendly conditions, Charlotte, with a market area that straddles both North
Arizona’s Maricopa County Board of Supervisors voted in favor of modernizing county zoning rules, a move that will bring clarity to which districts’ data centers are allowed in, as reported by the Phoenix Business Journal. The county’s new ordinance, passed Dec. 10, states that data centers will be allowed in two districts: IND-2 for general industrial uses and IND-3 for heavy industrial uses. It also states that land not currently zoned for data centers must go through the county’s rezoning process to gain special approval. Maricopa County is home to 4.5 million people
Following rapid increases in the years following the onset of the pandemic, Phoenix apartment rents have swiftly reversed course, with 2025 shaping up to be the third consecutive year with negative growth. While Valley incomes and wages have followed a similar trajectory, the swings have been far less severe, allowing them to outpace falling apartment rents for over three years. According to data from Oxford Economics, the median household income in the Greater Phoenix area averaged annual growth of just over 4% from 2023 to the third quarter of 2025. Wages
LaPour Partners and Holualoa Companies announced a major construction milestone with the topping-off of the new dual-branded AC Hotel by Marriott and Element by Westin at CityNorth. The ceremony marked the completion of vertical construction on the 8-story, 240-room hotel, which will help support growth in the vibrant Desert Ridge master planned community along the rapidly expanding Loop 101 corridor in North Phoenix. Developers, project partners, and construction team gathered on site for a celebratory beam-signing and the raising of the final structural
The Phoenix-based developers of an Atari-themed hotel planned on Roosevelt Row are hoping nostalgia and excitement might motivate old-school video game fans to invest in the project. Intersection Development, the developer of other Roosevelt Row projects, including the recently opened Rainbow Road, a Mario Kart-inspired apartment complex, purchased land in 2023 slated to develop an Atari-themed hotel, Jordan Taylor, partner at Intersection Development, said. How does someone invest in the Atari hotel? The group is opening a Regulation A, tier two equity
When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely more heavily on fundamental business health and
The NAIOP Research Foundation today released its newest office market forecast, revealing that national demand for office space surged in the third quarter of 2025 – a sharp reversal from earlier in the year that may signal the beginning of a broader market recovery. The report, “Office Space Demand Forecast, Fourth Quarter 2025,” analyzes current market dynamics, economic conditions and trends shaping office utilization across the U.S. According to the study, nationwide net absorption grew by 19.8 million square feet in the third quarter, a notable increase
After several years of turbulence driven by rising interest rates and economic uncertainty, the stage is finally set for a historic resurgence. Lower borrowing costs, renewed investor confidence, and pent-up transaction demand will ignite what should be the industry’s most significant boom since the recovery that followed the Great Recession. From Class A office towers in fast-growing Sunbelt cities reclaiming their status as prized assets to a wave of consolidation in the PropTech space, the coming year will mark a decisive
The U.S. economy added 64,000 jobs in November, modestly outperforming expectations for 45,000 despite signs of broader labor market softening, according to data from the Bureau of Labor Statistics. The unemployment rate rose to 4.6%, ticking up from 4.4% in October and rising to its highest level since September 2021. Meanwhile, October payrolls were revised sharply lower by 105,000 jobs, largely due to the federal government’s deferred-resignation program. Job creation remained uneven across sectors. Health care once again
Arizona continues to experience robust population growth, fueling gains in both the labor force and the broader economy. According to newly released estimates from the Arizona Office of Economic Opportunity, Arizona added 97,044 residents between July 1, 2024, and July 1, 2025, representing a growth rate of 1.2%. And many Arizona cities saw robust population gains. Fastest-Growing Counties (by Percentage) Pinal County – 3.7% Yuma County – 1.9% Santa Cruz County – 1.5% Mohave County – 1.3% Maricopa County – 1.3% Counties with
When it comes to the nation’s most favorable ecosystems for startups, Arizona is proving to be a robust hot spot. A report by real estate platform CommercialCafe found Phoenix to be the No. 1 large city for nurturing startups while Tucson and Mesa are Nos. 4 and 5 in the ranking for smaller cities, respectively. The report looked at which places are most hospitable for early-stage companies navigating an era of tightening capital since the generous days of 2021. In times like these, CommercialCafe said, “startups must now rely