Commercial Real Estate & Business News – November 23, 2016

US shoppers have been spending a little bit more each holiday season since the end of the recession, and will most likely follow that pattern over the coming weeks, according to a new survey and forecast from Chicago-based JLL. Researchers at the firm say that total holiday sales figures generally grow or shrink in line with the US economy as a whole, and as the US GDP has shown slow steady growth, so too have holiday sales grown...»

The U.S. multifamily market continued its historic run in the third quarter as demand for apartment units remained strong, matching a surge in new supply as developers continue to add new units at a record pace...»

 
Phoenix's place on Yelp's ranking could be thanks in part to the efforts of Local First Arizona, the largest local business coalition in the country. "Arizonans should recognize that where they spend their money has a much greater impact on their community and well being than they might expect," said Kimber Lanning, founder and director of Local First Arizona, in a statement. "Up to four times more money stays in the local economy when those dollars are spent with a local businesses rather than a national chain or global online retailer"...»

In "A Tale of Two Cities," "It was the best of times, it was the worst of times." A 2017 preview of land development for Phoenix and outlying regions may not be as dramatic as being best or worst, but it assuredly is a tale of two markets. Residential land development will call the shots transitioning into a new year, but how the land is utilized is beginning to manifest into a wide divide. Welcome to a sneak peak into the realm of the first-time, peripheral homebuyer market versus that of urban-core infill multifamily and single-homes...»

Maricopa County has the most investor-owned homes in the country and the most single-family homes owned by out-of-state investors in the entire U.S., according to a new analysis. Maricopa County has the most investor-owned homes in the country and the most single-family homes owned by out-of-state investors in the entire U.S., according to a new analysis...»

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