Commercial Markets
Current Commercial Market Summary
With a market bottom formed in mid-2010, the multi-family market saw two years of extensive foreclosure and divestment from banks, developers, and “underwater” property owners. The initial entrants into the markets were all-cash buyers who obtained severely distressed properties at rock bottom prices. Over the past year, signs of an uptrend in both rental rates coupled with the re-introduction of attractive financing alternatives have given the market some upward momentum.
With a typical “bottom time” of 3 – 5 years, and a “trough to peak” cycle of 14-18 years, the Phoenix commercial real estate markets are only now emerging and appear primed for an extended period of explosive growth.
What’s next? Check out:
Efficiencies in Mid Market