By Angela Gonzales – Senior Reporter, Phoenix Business Journal
Jul 10, 2018, 10:33am
The Phoenix area is on track to build 1,000 more homes than it built last year, with 9,710 single-famly building permits approved so far this year.
That’s a 17 percent increase over the 8,314 single-family building permits recorded at this time last year, according to the Home Builders Association of Central Arizona.
Two cities are outpacing the others, with Phoenix recording 1,583 single-family building permits so far this year, followed by Mesa, with 1,228 permits. Pinal County has another 1,077, while Buckeye is at 944 permits.
Surprise, which is a growing city in the West Valley, had a 122 percent increase in single-family permits year to date, with 607 permits.
This growth is spurred by a growing population and strong employment base.
Metro Phoenix added 544,141 residents between 2010 and 2017 — a 12.98 percent increase, according to recent estimates released by the U.S. Census Bureau, making the area one of the fastest-growing regions in the country. The metro Phoenix area now has 4.74 million people.
The HBACA is forecasting about 22,000 single-family permits this year, with an additional 10,500 apartment units under construction to the tune of nearly $1.4 billion, according to a report by Colliers International.
Multifamily building permits peaked in 2007, with 10,868 permits, said Thomas Brophy, director of research for ABI Multifamily.
“We peaked again in 2016 with 10,150,” Brophy said.
By the end of 2017, the metro Phoenix area had 8,814 multifamily building permits, he said.
“They’re being absorbed incredibly fast and a lot faster than developers were anticipating,” Brophy said.
One thing that could slow construction is finding enough labor to finish these homes, he said.
“Considering employment in those areas, developers have been having a hard time continuing to fill positions,” Brophy said. “They’re trying to find those finishing trades to get it completed.”
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 firstname.lastname@example.org. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
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 email@example.com
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 firstname.lastname@example.org
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.
- 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%).
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.
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 email@example.com 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
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