Why Phoenix Real Estate
Still Has Fairway Ahead
Instead of comparing the Phoenix real estate market to a baseball game and its innings, the speakers at our Phoenix State of the Market event decided to compare the market to an 18-hole golf game. Where's the market now? The consensus—not quite everyone, but close—was the 11th or 12th hole. There's still some game to go.
In the commercial property market, our speakers said the fundamentals are still strong. For instance, the Phoenix office market is about 16.6% vacant, down 150 basis points since last year, seeing about 1.42M SF absorbed in that time. Also, asking rents…
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