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
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
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
A multi-billion-dollar project set to bring a 600-room resort hotel, thousands of square feet of retail and office space, is in the works in southeast Mesa. Retail developer Vestar and landowner Pacific Proving LLC are partnering to build a massive 200-acre commercial development along Williams Field Road and State Route 24. It will be called Legacy Park, not to be confused with the former youth sports facility that was sold through bankruptcy court
Apartment searches recently reached their seasonal peak for the summer, and Scottsdale stands out as the most attractive city in Arizona for renters. That’s according to RentCafe’s midyear renter engagement report, which looked at current and historic search volume and interest, as well as change in overall availability. RentCafe used that data to create what it calls a “REnT Score” — a renter engagement tool based on millions of website interactions. Scottsdale ranks
A new ranking of America’s fastest-growing affordable suburbs is giving a better idea of just how influential the Phoenix Metro is on the national stage. Four Metro Phoenix suburbs — Maricopa (#9), Buckeye (#15), San Tan Valley (#16), and Goodyear (#26) — rank among the fastest-growing and most affordable suburbs with home values under $500,000. Using data from Zillow and the U.S. Census Bureau, the study highlights suburbs with strong population growth and home
PHOENIX – An Arizona-based conservation group is suing the state’s water resources director over concerns about a large housing development in Cochise County. The Center for Biological Diversity filed a lawsuit against Arizona Department of Water Resources (ADWR) Director Tom Buschatzke on Aug. 4, citing concerns that the city of Benson’s groundwater supply is below the standard for new housing as required under state law. At the center of the complaint
For quite some time now, just about every story about the housing market in the Valley of the Sun has been about prices going up, with almost no end in sight. But, recent numbers show that’s finally changing — a bit. The median home price in the Valley has been going down this summer and could continue on that trajectory going forward. Why? It has to do with classic supply and demand, and metro Phoenix realtor Camille Hartmetz says for the first time
U.S. commercial property prices posted consecutive year-over-year gains in June and July, marking the first such two-month stretch since mid-2022, according to MSCI. The data suggests that sentiment across the sector may be shifting after several years of broad declines. MSCI’s RCA CPPI National All-Property Index rose 0.9% in July compared with the same month in 2024, and
Phoenix ranks fifth nationally among the markets with the largest share of the top 100 industrial leases in the first half of 2025, according to a new report from CBRE. Phoenix had four of the top 100 leases, totaling 2.2 million square feet, with 24.4 percent of its transactions being renewals in the first half of 2025. “Given Arizona’s business-friendly environment, deep and diverse labor base
Buckeye is the latest fast-growing Valley city looking to ramp up employment opportunities closer to town, with plans for a major industrial employment corridor in the works. On Aug. 26 Buckeye City Council will discuss a request to annex over 1,900 acres of agricultural land near Verrado Way and MC85 to lay the framework to turn the area into an industrial hub housing advanced
Consumers are increasingly concerned about the state of the economy, and that is affecting yet another real estate sector — student housing. Rent growth in the sector slowed to just 0.9% in July across 200 colleges surveyed by Yardi. The average advertised asking rent fell to $905 per bed, a 1.4% decrease from the $918 peak in March “as operators struggle to lease remaining
Mortgage interest rates have stayed flat this week. The average 30-year fixed rate hasn’t changed at all and is 12 basis points higher than this time last year. This could leave potential home buyers wondering, “Is this a good time to buy a house?” Now could be a good time to buy, as far as interest rates go, because experts don’t expect rates to plummet before the end of the year
Millions of square feet of new commercial development could rise in north Phoenix. The city of Phoenix is pursuing a development agreement with Minnesota-based real estate developer Mortenson for a site of prime desert land formerly eyed by the Phoenix Coyotes for a proposed hockey arena. In June, Mortenson placed the winning bid in an Arizona State Trust land auction, paying $136 million for the 217.16-acre site located west of North
Buckeye is the latest fast-growing Valley city looking to ramp up employment opportunities closer to town, with plans for a major industrial employment corridor in the works. On Aug. 26 Buckeye City Council will discuss a request to annex over 1,900 acres of agricultural land near Verrado Way and MC85 to lay the framework to turn the area into an industrial hub housing advanced manufacturers, data centers, battery storage facilities and other similar users
Developers following population growth are building rentable houses in these areas. Once a niche segment of the housing market, build-to-rent developments of townhouses and single-family houses have rapidly gained traction across the United States, with the Sun Belt emerging as a clear epicenter of growth. Fueled by population growth and the availability of land in these areas, as well as the escalating cost of homeownership, demand for build-to-rent
The U.S. government has struck a deal with Intel Corp. to take a nearly 10% equity stake in the company, the White House and the California-based chipmaker announced Friday. Under terms of the deal, the U.S. government is agreeing to invest $8.9 billion for 433.3 million shares of Intel’s stock at $20.47 per share, equating to a 9.9% stake in the chipmaker, according to a company release. “As the only semiconductor company that does leading
Phoenix has seen labor growth expand so far in 2025, while job growth and housing permits face headwinds, according to an analysis from the Eller Business Research Center. Exhibit 1 presents current Phoenix-Mesa-Chandler MSA economic indicators. In June, the non-seasonally adjusted civilian labor force within the Phoenix-Mesa-Chandler MSA (Phoenix MSA) grew by a notable 1.8% compared to the previous year, reaching a total of 2.8 million individuals