Commercial Real Estate & Business News – August 25, 2016

For the past year, signs having been pointing towards decelerating price appreciation. The Moody's/RCA CPPI was relatively flat between August 2015 and April 2016, rising just 1.0 percent over that eight-month period. That halt in upward trajectory was not entirely unexpected given that the composite index had been enjoying robust growth of more than 1.0 percent per month for the prior three years...»

In addition to the low cost of living, some of the most frequent reasons that the Inc. 5000 entrepreneurs gave as to why Phoenix was a great place for startups included proximity to the Bay Area and the Western United States (it's a 90-minute flight from San Francisco), the supportive environment of the entrepreneurial community, and the work-life balance...»

Arizona's economy is shedding its underperforming label and will start to push above the national average, according to a new report. Robert Kavcic, senior economist at BMO Capital Markets in Toronto, expects the state's economy to grow by 2.1 percent this year and 2.4 percent next year, following subpar strength over the past five years...»
The city of Phoenix on Tuesday listed Trammell's bid as the preferred one for the Fillmore property. The parcel totals 7.6 acres and includes property previously occupied by the Thomas J. Pappas School for homeless children...» 
The Commerce Department said on Tuesday new home sales surged 12.4 percent to a seasonally adjusted annual rate of 654,000 units last month, the highest level since October 2007. June's sales pace was revised down to 582,000 units from the previously reported 592,000 units. July's increase, however, likely exaggerates housing market strength as it has not been matched by robust housing starts...»

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