Phoenix Real Estate News
Phoenix
U.S. Mega Distribution Centers Leasing Activity Grew in 2024
According to recent data from CBRE, the U.S. industrial real estate market saw a significant increase in mega distribution center leases (1 million sq. ft. or more) in 2024, fueled by robust online sales nationwide.
U.S. Homes Are Selling at Slowest Pace in 5 Years in Early 2025
According to Redfin, U.S. homes are selling at the slowest pace since the pandemic's onset in early 2020, as high mortgage rates and elevated home prices persist.
Under Biden, 2024 Marked the Slowest U.S. Home Sales Period in 30 Years
In 2024, existing U.S. home sales fell to their lowest annual level since 1995, with just 4.06 million homes sold on an annualized basis. This steep decline was driven by 23-year high mortgage rates, extreme home price inflation, restrictive government regulations, declining consumer sentiment and a shortage of housing inventory.
Mortgage Rates in America Above 7 Percent, Again
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.04 percent as of January 16, 2025.
