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ICSC (RECon) Executive Summary: Four Commercial Construction Trends

HardHatChat

Commercial construction financing is available for viable and stable projects. Cities like Miami, Dallas, Phoenix, Las Vegas and San Francisco are all performing very well for commercial general contractors. Overall, confidence is high. Depressed markets are rebounding quickly.

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In the Race to Sell, Builders Are Offering Major Price Reductions

Pro Builder

Just a 2% rate reduction can amount to thousands of dollars in savings, meaning that in pricey cities like Phoenix, where the median home costs $450,000, builders are fronting between $22,500 and $27,000 of the total sales cost to boost demand. New-Home Sales. Builders.

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If not private finance, ?then what?

Construction Law

The government’s replacement for private finance is the subject of consultation, held up like so much else at the Brexit roadblock, and now by a general election. But the signs for private finance in any form are not good. New ideas are being sought via the consultation process.

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Home Values Increase Up to 9% Year-Over-Year Nationwide

Pro Builder

Some metros experienced higher value increases than others, such as Phoenix, which saw a home value increase of 2.1% Home values increased in all 50 of the largest metros in the country tracked by Zillow, with its home value index increasing 1.1% from December, but 9.1% year over year. and San Francisco, where home values inched up 0.4%.

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The Fed Just Paused Interest Rate Hikes—What Does That Mean for Home Prices?

Pro Builder

from this time last year, and cities such as Austin, Texas, and Phoenix are seeing double-digit declines, but without an increase in housing inventory, experts say home prices will remain elevated throughout the remainder of 2023. Read more Market Data + Trends Financing Affordability Market Data + Trends

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Are You Ready for Build to Rent?

Pro Builder

announced it was selling five of its communities in Phoenix, a total of 943 homes, to an affiliate of The Inland Real Estate Group of Companies , in Oak Brook, Ill. The capital investment appetite for it is huge,” says Michael Finch, EVP at SVN SFRhub Advisors , a Phoenix-based consulting and brokerage group. and getting stronger.

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Top Three Metros With the Fastest Rising Home Prices

Pro Builder

There are three metros that outpaced the national and 20-city averages: Phoenix, Seattle, and San Diego. Phoenix home prices increased by 13.8% Phoenix experienced the largest price increase for the 18th consecutive month with a 13.8% compared to November 2019. increase, followed by Seattle (12.7%) and San Diego (12.3%).

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