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Commercial Real Estate & Business News – November 1, 2016

November 1, 2016 by Nick Miner, CCIM   No comments   Filed Under: Daily News

Homeownership Rate Still Has Room to Bottom Out
When will the homeownership rate bottom out? It’s a good question without a definite answer, but obviously we haven’t found the bottom yet. The most recent reading of 62.9% matches the historical record-low set back when the government first began tracking these data…»
Arizona Taxable Sales Showing a Robust End to Fiscal 2016
Arizona taxable retail sales out-paced the national average by a factor of eight for fiscal 2016 ending June 30. While retail sales across the U.S. were up 0.6 percent for Fiscal Year 2016, Arizona is boasting a 5.3 percent jump in retail sales …»
Superior Court Sides with Scottsdale in Eminent-Domain Case

Scottsdale’s eminent-domain lawsuit against a local tennis club owner who refused to sell property for a fire station is headed to the Arizona Court of Appeals after a Maricopa County judge ruled that Scottsdale can take “immediate possession” of the land. …»

Construction Unemployment Rates Improve in 32 States
September not seasonally adjusted (NSA) construction unemployment rates improved in 32 states and the nation on a year-over-year basis, according to analysis released Monday by Associated Builders and Contractors (ABC).…»
Apt. Rents: Biggest Monthly Drop Since ’13
With the pace of apartment rental growth moderating in recent months, it stands to reason that eventually the average rent would begin ticking downward on a month-to-month basis. That began happening in September and continued with October …»

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
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