How Valley Luxury Homes Sell During a Cooling Market

By Angela Gonzales | Phoenix Business Journal Luxury real estate agents continue to close deals at a time when mortgage interest rates have doubled since January. Scott Grigg sold a home in 7 Desert Mountain golf community for $941.47 per square foot. That’s because cash buyers continue to flock to the Valley with millions of …

Read More How Valley Luxury Homes Sell During a Cooling Market

Scottsdale Sees Single-Family Building Permit Increase

By Angela Gonzales | Phoenix Business Journal Scottsdale was one of only four municipalities that reported an increase in single-family permits issued between January and the end of September. The homebuilding industry is taking a hit as rising mortgage interest rates are causing buyers to hit the pause button. As a result, Phoenix-area homebuilders have …

Read More Scottsdale Sees Single-Family Building Permit Increase

Valley Homebuilders See Big Success with Multi-Gen Living

By Angela Gonzales | Phoenix Business Journal Despite a cooling housing market, two public homebuilders are seeing stronger sales of their multigenerational living product. Miami-based Lennar Corp. and Newport Beach, California-based Landsea Homes Corp. are seeing stronger sales of this unique product amid high rental and mortgage interest rates. Lennar’s Phoenix division was the first …

Read More Valley Homebuilders See Big Success with Multi-Gen Living

More iBuyer Job Cuts as Arizona Housing Market Cools

By Angela Gonzales | Phoenix Business Journal About 2,000 homes in metro Phoenix are owned by the so-called iBuyers, representing a $2 billion investment, according to New York City data analytics firm Parcl Labs. The term iBuyers refers to companies that use tech-focused programs to buy and sell houses quickly. “If iBuyers sold their active …

Read More More iBuyer Job Cuts as Arizona Housing Market Cools

Semiconductor Co. May Be Investing Another $12B Here

By Audrey Jensen | Phoenix Business Journal A Wall Street Journal report said Wednesday that chip giant Taiwan Semiconductor Manufacturing Co. could be planning a multibillion-dollar expansion in Phoenix in addition to what’s it’s already planning to build. TSMC plans to announce in the coming months that it will build a “cutting-edge” semiconductor factory, or …

Read More Semiconductor Co. May Be Investing Another $12B Here

Plans to Turn Old Town Peoria Into New Retail Corridor

By Audrey Jensen | Phoenix Business Journal The city of Peoria has approved a new development agreement and is committed to spending up to $1.5 million for public infrastructure improvements for its historic Old Town area in the southern part of the city. Last year, Peoria posted a request for proposals for redevelopment of several …

Read More Plans to Turn Old Town Peoria Into New Retail Corridor

How Much Home Price Growth is Slowing in the Valley

By Angela Gonzales | Phoenix Business Journal Home price growth in metro Phoenix is sinking like a lead balloon. For nearly three years, Phoenix had led the nation in home price growth until March, when the metro dropped into second place. It’s been on a steady decline since then, dropping to No. 7 on the …

Read More How Much Home Price Growth is Slowing in the Valley

Local Builder: Lower Luxury Supply, Greater Demand

By Angela Gonzales | Phoenix Business Journal Rod Cullum, owner of Scottsdale-based Cullum Homes, said his sales team stopped getting calls in May, and didn’t see interest pick up until September. Much of that was because luxury buyers were taking advantage of their travel plans, he said, but rising interest rates also impacted their businesses …

Read More Local Builder: Lower Luxury Supply, Greater Demand

Semiconductor Growth in North Phoenix to Intensify

By Audrey Jensen | Phoenix Business Journal Not long after Taiwan Semiconductor Manufacturing Co. announced its decision to build a $12 billion factory in Phoenix, real estate firms started buying up hundreds of acres in the nearby Deer Valley submarket, which is home to one of the largest job corridors in Phoenix and spans more …

Read More Semiconductor Growth in North Phoenix to Intensify

Valley Semiconductor Sector a Decades-Long Growth Catalyst

By Audrey Jensen | Phoenix Business Journal Intel Corp.’s existing chip fab and $20 billion expansion in Chandler, in addition to Onsemi and Microchip Technology Inc., have helped build up the Valley’s semiconductor ecosystem and paved the way to attract TSMC (Taiwan Semiconductor Manufacturing Company) and future suppliers to the Valley, experts say. Intel, which …

Read More Valley Semiconductor Sector a Decades-Long Growth Catalyst
1 2 3 19