“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. . VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
March 29, 2018 Alliance Bank of Arizona 2018 Economic Forum Finds Ariz. Growing Faster than U.S. Overall
Phoenix, Ariz. – Arizona continues to be a star of the U.S. economy, with economic activity growth in Ariz. exceeding growth across the country, according to a Regional Intelligence Report presented last week at the Alliance Bank of Arizona 2018 Economic Forum by notable economist Dr. Christopher Thornberg.
Population growth is responsible for much of the increase in Ariz.’s economic activity. From 2016 to 2017, the state’s population increased by 1.6 percent, well ahead of the nation’s growth rate of 0.7 percent. At the same time, employment increased at an even faster rate of 12.6 percent, well above the 9.3 percent growth in non-farm employment for the nation as a whole.
The expansion of the statewide economy has fueled growth across many of the state’s industries, including real estate. Nearly every industry of the Ariz. economy is adding jobs in Ariz. each month as nonfarm employment statewide increased by 2.2 percent from Jan. 2017 to Jan. 2018, with the state’s unemployment rate falling 0.2 percentage points to 5.1 percent in that time.
In percentage terms, mining and construction led the state in job growth at 8.3 percent (12,300 jobs) from Jan. 2017 to Jan. 2018, with nearly all of that growth coming in construction (12,100 jobs). This was followed by a 4.9 percent increase in manufacturing employment (7,900 jobs). Education and health services tied as the third-fastest-growing industries in percentage terms, at 3.5 percent, with the highest overall gain in jobs, at 14,800, most of which came from healthcare. High-paying and prominent industries grew with professional and business services employment increasing by 1.3 percent (5,500 jobs).
Other notable findings of the report:
- Tourism: Ariz.’s tourism activity has bolstered employment growth in leisure and hospitality, with 2.8 percent of employment growth (8,600 jobs) from Jan. 2017 to Jan. 2018. Tourism indicators in the state have generally shown improvement in recent years. From Dec. 2016 to Dec. 2017, gross sales from tourism in Ariz. increased by 4.6 percent, national park visitation increased by 9.1 percent and state park visitation increased by 10.3 percent.
- Phoenix-Metro Jobs: With 2.1 million jobs in Jan. 2018, the Phoenix-metro area accounted for nearly three-quarters of the state’s 2.8 million jobs overall. With 4.7 million residents, it also accounts for the lion’s share of the state’s 7-million residents. It should be no surprise that the Phoenix-area economy is tracking closely with the performance of the state economy. Employment has been increasing steadily, the unemployment rate is falling (at 4.5 percent in Jan. 2018), and wages are climbing. In looking at the composition of the local economy, the trade, transportation and utilities industries have the greatest number of jobs in Phoenix metro. However, the high-skilled, high-wage financial activities and professional/business service industries each have higher concentrations of jobs in the Phoenix labor market relative to the U.S. This suggests a regional advantage for these industries. Likewise, mining, construction, leisure and hospitality also have higher concentrations of jobs in the Phoenix economy than in the U.S., giving those industries competitive advantages locally.
- Taxable Sales: Job growth combined with wage growth translates to higher demand for goods and services. In Phoenix metro, taxable sales increased by 4.7 percent from Dec. 2016 to Dec. 2017. Gas prices are on the rise nationwide, while leisure and hospitality spending remains strong. As a result, even though retail sales have experienced only moderate growth (2.9 percent), hotel/motel (12.6 percent), gasoline (12.5 percent), and restaurant and bars (12.4 percent), spending increased substantially from Dec. 2016 to Dec. 2017.
- Residential Real Estate: With such a strong and robust labor market, how is the Phoenix-metro residential real estate market keeping up? The region’s existing single-family median home price stood at $246,700, increasing 6.0 percent (vs. 5.6 percent nationally) from 2016 to 2017. Affordability is roughly on par with the nation as a whole. Across the U.S., the existing single-family median home price stood at $248,800. The median household income in the Phoenix is estimated at $59,500, compared to $59,000 across the country. In terms of rentals, just over one-third (38.3 percent) of households in Phoenix metro are renters. Apartment rents increased by 3.5 percent from 2016 to 2017. Arizona’s other major metros offer a mixed picture regarding multifamily trends.
- Commercial Real Estate: The Phoenix-metro commercial real estate market has been expanding in recent years in response to continued growth in local industries. From 2016 to 2017, the average office rent increased by 2.1 percent to $2.11 per-square-foot monthly, while the office vacancy rate remained relatively stable at 22.4 percent, a decrease of only 0.4 percentage points in that time. The average retail rent increased by 3.0 percent to $1.89 per-square-foot monthly, while the retail vacancy rate remained roughly flat at 8.8 percent. Economic growth has prompted commercial construction growth in the Phoenix area. In Maricopa County, permit values increased by 89 percent from the fourth quarter of 2016 to the fourth quarter of 2017. Total commercial permit values were $5 million in the fourth quarter of 2016, but $9.5 million in the fourth quarter of 2017.
Further details can be found in the Regional Intelligence Report, prepared by Beacon Economics LLC and presented by Alliance Bank of Arizona at the organization’s inaugural economic forum.
To download the full version of the Regional Intelligence Report, visit https://goo.gl/eKS2Qg.
As a division of Western Alliance Bank, Alliance Bank of Arizona is the state’s largest locally-headquartered banking division. Western Alliance Bank, the primary subsidiary of Western Alliance Bancorporation (NYSE: WAL) holds more than $20 billion in assets. For the third year in a row, Western Alliance ranks in the top ten on Forbes’ list of America’s Best Banks – taking the No. two spot for 2018. For more, visit AllianceBankofArizona.com. SEE IT ALL: http://cem-az.com/arizonas-economy-population-growth-and-jobs-ranked-above-national-average/
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
KASTEN LONG Commercial Group and AMA Events, Resources & Education For Apartment Owners
GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER 1st QTR 2018 / KASTEN LONG COMMERCIAL GROUP.
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME walterunger@ccim.net
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
WEEKLY LAND CLOSING UPDATE / THROUGH June 15, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / THROUGH May 25, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY APARTMENT CLOSING UPDATE THROUGH June 15, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH June 1, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 25, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 18, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 11, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 4, 2018, Phoenix Arizona Metro.
8 Reasons You Should Invest in Land
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER 1st QTR 2018 / KASTEN LONG COMMERCIAL GROUP.
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
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Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 520-975-5207
Fax: 602-865-7461
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