DAILY TOP 5

Toll Brothers Inc. has submitted an application to the city of Scottsdale to bring luxury townhomes within the Cavasson development. The project, aptly called Toll at Cavasson, would bring 136 luxury units on an 11.27-acre site to Cavasson, a nearly 135-acre mixed-use development near the northwest

In the last decade, what was once a sleepy suburb has hosted two Super Bowls, four NASCAR Championship Weekends, a men’s college basketball Final Four, the College Football Playoff National Championship, a Jake Paul fight, two classic UFC events, the Rolling Stones and Taylor Swift — twice. Welcome to the West

Metro Phoenix continues to exhibit relatively mild inflation, with consumer prices here rising 2.7% over the 12 months through June, the U.S. Bureau of Labor Statistics reported. Nationally, inflation over the past 12 months rose at a 3% pace, kept at bay, in part, by lower gasoline prices. Only Houston (2.1%) and

San Francisco Federal Reserve Bank President Mary Daly said Thursday that she now supports cutting interest rates. “With the information we have received today, which includes data on employment, inflation, [gross domestic product] growth and the outlook for the economy, I see it as likely that some

New listings climbed 15.8% in the Metro Phoenix residential real estate market for the first half of 2024 compared to last year, based on the latest data from Phoenix REALTORS®. The month-over-month median sales price was up just 1.5%. Days on the Greater Phoenix market dropped over 11% for the year’s first half. “It’s

Prominent Phoenix developers Craig Krumwiede and David Krumwiede share a few major similarities. The brothers pursued lifelong careers in real estate, following in the footsteps of their father, and have both built major multimillion-dollar projects across the Valley, where they grew up. Although Craig, 68, and David, 62

Grocery giants Kroger and Albertsons Cos. have identified the nearly 600 stores they plan to divest to try to appease and finally win federal approval for their stalled $24.6 billion merger, the biggest deal of its kind in U.S. history. Kroger, the nation’s largest supermarket chain, and its fellow

Price increases slowed more sharply than expected in June, adding to evidence that high inflation has subsided and potentially clearing the way for the Federal Reserve to lower interest rates that affect everything from mortgages to credit card payments. The Consumer Price Index rose 3% year over year in June, slower

The CRE market appears to be moving forward “slowly and cautiously,” according to the LightBox Monthly CRE Activity Index, which rose in June for the fourth consecutive month. The index is intended to help participants identify inflection points in the market on the aggregate

Kroger and Albertson’s released the list of stores the companies plan to sell Tuesday, should a merger between the grocery giants be approved by regulators.The list outlines the 579 stores that will be transferred from the merging companies to C&S Wholesale Grocers along with six distribution centers and one dairy plant…»

In testimony before the U.S. Senate Banking Committee Tuesday, Federal Reserve Chair Jerome Powell suggested that the nation’s central bank may soon determine the time has come to begin lowering the federal funds rate. The Fed has maintained the key interest rate in a range of 5.25% to 5.5% since the July meeting

Federal Reserve Chair Jerome Powell offered hints to Congress that the central bank is getting closer to lowering its key borrowing rates as it looks beyond taming inflation, though it still wants to see more progress on the pricing front before committing to rate cuts. “Elevated inflation is not the only

After years of delays, the Ritz-Carlton Paradise Valley is expected to be completed by the end of 2024, with an official opening date coming soon. The project features 80 villas, 32 estate homes and a resort with 215 rooms. The sold-out villas, which range from 1,700 to 4,800 square feet, are beginning to be

Semiconductor manufacturing is on a roll, and Arizona is grabbing a significant piece of that vital industry along with national recognition of its role. The latest indication: A major industry trade show will be held in Phoenix on a rotating basis starting in 2025, after 50 consecutive years in San Francisco

Despite a pandemic construction boom, the U.S housing shortage grew to 4.5 million homes in 2022, up from 4.3 million the year before, according to a new analysis from Zillow. This deepening housing deficit is the root cause of the housing affordability crisis. In Metro Phoenix, the

Industrial property values have risen steadily over the decade and continue to grow in 2024 despite normalized demand and reduced transaction volumes due to high interest rates, according to the latest CommercialEdge report.The average national sale price of industrial properties reached $142 per square foot as

Phoenix has seen a second consecutive quarter with construction cost increases of less than 1%.A report from Phoenix-based Rider Levett Bucknall, a construction advisory, cost and project management firm, found Phoenix came in below national averages for cost increases, experiencing a 0.94% spike

While supply continues to garner the lion’s share of apartment industry-focused headlines, there’s an equally remarkable demand surge brewing across the country. In fact, the impressive demand reading in year-ending 2nd quarter 2024 may be difficult to overstate. Some 390,000 apartment units

The commercial real estate industry has been trying to sort out, and lobby for, where things are going. Goldman Sachs said office markets, maybe the most rattled part of CRE, have bottomed. Price increases could also indicate the start of a bottom according to a CoStar report. Then again, private CRE

Over the past five years, average rents have hit record highs in almost every major U.S. metro area. Data from SpareRoom, the leading roommate matching site, suggests that in 10 years, most major U.S. metro areas could become unaffordable for the average renter if rents continue

Metro Phoenix homeowners who want to upsize or move to a new neighborhood are coming to terms with an unfortunate reality: They’re not going anywhere. Why it matters: People who were lucky enough to break into the housing market before prices

Despite the thousands of new apartment units opening for lease across metro Phoenix each quarter, a RentCafe study shows 57.9% of renters aren’t budging and instead are renewing their leases. Phoenix’s occupancy rate dropped to 92.4% at the start of the summer rental season, down from 93.5% last year

Construction on the first of three factories in north Phoenix that will produce advanced microchips is nearing completion. Engineers are now manufacturing wafers to test the equipment expected to support 6,000 jobs when all three factories are operational by 2028

The Metro Phoenix retail sector has seen a spectacular recovery since the pandemic, with Avison Young’s First Quarter 2024 Phoenix Retail Market Report stating that “since Q4 2020, Phoenix has rebounded, creating a national leading market with demand surpassing availability.” More than 1 million