Thousands of Arizonans Could Become Homeless Soon

By Catherine Reagor | Arizona Republic Thousands of Arizonans struggling to pay rent because of the COVID-19 pandemic could lose their homes this summer when Gov. Doug Ducey’s executive order delaying evictions expires, government data suggests. Renters who were sick with the virus, lost jobs or had to stop working because schools were closed have …

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Airbnb will Survive COVID-19 with Big Changes

By Amy Farley | Fast Company (June 25, 2020) There are three things that we think people will want. The first is to travel more locally. Second is affordable options. Third is that they want to prioritize cleanliness and private spaces. (Below is an excerpt from the original article; read more here.) Joe Gebbia is …

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Phoenix Rental Price Growth Drops in April but Still Leads Nation

By Jeff Gifford | Phoenix Business Journal Phoenix remained the national leader in residential rental price growth in April, even though the COVID-19 pandemic tripped up the steady increases found both in the Valley and around the nation, a new analysis shows. The new Zillow Observed Rent Index (ZORI) shows that residential rental prices, including …

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COVID-19 Couldn’t Keep Phoenix Home Price Gains Down

By Angela Gonzales | Phoenix Business Journal Leading the nation once again in home price gains, Phoenix appears to be immune to COVID-19. At 8.2%, Phoenix reported the highest year-over-year gains during March, according to the S&P CoreLogic Case-Shiller Indices, at a time when the national year-over-year gain was 4.4%. Tina Tamboer, who keeps a …

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Home Sales Have Already Rebounded in the Valley

By Angela Gonzales | Phoenix Business Journal While home sales volume in metro Phoenix took a hit in April, the existing home sales market already has rebounded. You read that correctly: Already rebounded. Tina Tamboer, senior housing analyst for The Cromford Report, said home sales in the existing resale market were sharply lower in April, …

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April Not as Painful as Expected for Valley Homebuilders

By Angela Gonzales | Phoenix Business Journal While homebuilders were expecting a strong selling season this spring before COVID-19 hit, the impact of stay-at-home orders wasn’t as painful as expected as they pivoted to offer virtual and appointment-only tours. From entry-level to luxury properties, homebuilders experienced better April sales than they did in March, when …

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NAIOP AZ: May Rents Should Be Less Chaotic Than April

By Corina Vanek | Phoenix Business Journal As commercial landlords stare down another month of tenants— especially restaurants and retailers — likely missing rent when checks are due on May 1, the chaos has calmed slightly since what happened in April and processes have been put in place to deal with rent relief. Suzanne Kinney, …

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COVID-19 Puts Major Scottsdale Projects On Hold

By Larry Kush | Apr. 20, 2020 NOTE: The SCOTT 2020 executive committee will be providing information over the next few weeks on some of the challenges created by the COVID-19 crisis, giving residents context and understanding as they look at what the city faces ahead. As Scottsdale City Government braces for expected economic hardships …

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As Sellers Yank Listings Nationwide, Phoenix More Stable

By Craig M. Douglas | Phoenix Business Journal The coronavirus pandemic has jolted the U.S. housing market back to levels last seen during the depths of the Great Recession and is wiping billions in potential sales commissions off the table for real estate brokers. A Business Journals analysis of pricing and supply data provided by …

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COVID-19 May Play Havoc with Valley’s Commercial Construction

By Corina Vanek | Phoenix Business Journal Before the coronavirus outbreak, the volume of construction work for Valley subcontractors was near an historic high, marking a “supercharged” market. According to Colliers International research, there was $4.3 billion worth of projects under construction in the Phoenix area at the end of 2019. And things picked up …

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