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RESIDENTIAL REAL ESTATE MARKET UPDATE:

Greater Phoenix Resale Numbers Gain from New Investors, First-Time Buyers (Jun. 19, 2008) from - Realty Studies at the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic Campus
In May 2008, a total of 5,740 resale homes recorded sold. This sales activity includes 1,475 recorded foreclosed home transactions and 4,265 traditional market transactions, while a year ago it was 305 and 4,915 recorded sales, respectively.... Historically, May is a strong month and the 4,265 recorded sales represent the best month of 2008 and the best since 4,570 homes were recorded sold in June 2007.... For the traditional market, the median price was $223,500, while the foreclosed properties had a median price of $179,465....


Greater Phoenix Resale Numbers up for April, Median Prices Down (May 13, 2008) from - Realty Studies at the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic Campus
For the first time since July 2005, the local resale housing market has posted year-over-year improvement. April had 5,585 recorded sales in contrast to 4,855 sales for a year ago and 4,335 sales in March 2008.... The median home price declined from $220,000 to $210,000, in contrast to last year’s $265,000. This is the lowest median price since February 2005 at $200,000.... “One of the driving forces in increased activity has been rapidly declining prices that have fueled renewed investor interest and potential owner-occupants, especially in the lower income ranges,”....


Phoenix Metro Area 3rd Highest Numerical Growth in 2007 (Mar. 27, 2008) from the - US Census Bureau
Dallas-Fort Worth had the largest numeric gain of any metro area between 2006 and 2007, increasing by 162,250, according to July 1, 2007, estimates of metro area population size and growth released today by the U.S. Census Bureau. Atlanta (151,063), Phoenix (132,513) and Houston (120,544) rounded out the metro areas with a gain of at least 100,000.


Arizona's Ranking in National Statistics from the June 4, 2007 article from - The Desert Advocate
...Arizona ranks 16th in the country for Population...Phoenix has surpassed Philadelphia to now rank as the 5th most populous American City...Median housing value is listed as $185,400, 20th in the nation...The average monthly rental rate is $717, 19th in the country...The median family income is ranked 34th inthe country at $51,458....


ARIZONA NOW FASTEST-GROWING STATE (Dec. 25, 2006) - by Les Christie, CNNMoney.com staff writer.
Arizona replaces longtime leader Nevada as the fastest-growing state in the union during the 12 months ended July 1, 2006, according to the U.S. Censes Bureau.

COMMERCIAL REAL ESTATE ARTICLES:

March 2008 Update - from Phoenix Commercial Real Estate Trends
...The Industrial Sector was the only group of Commercial Real Estate which showed an increase in the number of sales in 2007.... Even though the number of Commercial Real Estate transactions taking place has been dropping steadily over the past year, the prices paid for Office Buildings in the Greater Phoenix area have continued to increase....


Dramatic Declines in Investment Activity Mask Respectable Fundamentals… - March 2008 issue of Commercial Real Estate Outlook
While investment in commercial real estate has decreased to levels not seen in four years, fundamentals (vacancy rent growth, absorption) have remained relatively buoyant.... One positive aspect resulting from the downturn in the residential housing industry has been the positive impact on the multi-family rental sector....
BONUS: Phoenix, AZ Vacancy Rates (Office 16.9%, Industrial 10.7%, Retail 7.8%, Multi-Family 6.4%).


APARTMENTS TRENDS - Apartment Values Soaring - Summer 2007 issue of Phoenix Commercial Real Estate Trends
Despite a significant slowdown in the number of complexes purchased in contemplation of conversion to condominiums, the average price paid for apartment buildings throughout the greater Phoenix area continues to increase....


REPORT ON APARTMENT BUILDING SALES AND CONSTRUCTION IN THE PHOENIX AREA FROM 1978 - 2005 - (c)2006 Kammrath and Associates
The major focus of this study was to identify trends regarding apartment buildings in the greater Phoenix area for the years 1978 to 2005. Over 6,500 individual sales were analyzed and categorized. This represents in excess of $24 billion in sales volume. (Includes Average Price per Unit, per Foot and per Building; Units Sold and Buildings Sold Sales Activity; Dollar Volume of Buildings Sold; and Apartment Building/Unit Inventory).