Local CRE Trends

Discover What’s New and Interesting in Our Backyard

Phoenix, Arizona is the fifth largest city in the United States by population and the most populous state capital. It is the center of one of the fastest growing job markets and economies in the U.S. – in the last five years, more than $4 billion was invested in office space, retail, restaurants, educational facilities, and hospitality space, according to the City of Phoenix Community and Economic Development Department. Its prime location, just a few hours from major markets in California and Mexico, makes it an ideal place for entrepreneurs to establish a new business.

Phoenix has a diverse economy with strength in technology, manufacturing, bioscience research and advanced business service. It is home to four Fortune 500 companies: Avnet, a distributor of electronic components; mining company Freeport-McMoRan; Republic Services, the second largest provider of non-hazardous solid waste collection, transfer, disposal, recycling, and energy services in the United States; and pet supply company PetSmart.

Downtown Phoenix has the highest concentration of employment in Arizona and is experiencing dramatic growth due to a number of large-scale projects such as the Phoenix Convention Center expansion, Valley Metro Light Rail and the Phoenix Biomedical Campus. The Phoenix Biomedical Campus hosts the highest concentration of research scientists and professionals in the region. The Phoenix Biomedical Campus offers a unique opportunity for bio-industry companies to connect, collaborate and partner with leading organizations in the industry, including nationally recognized biomedical education programs, according to the City of Phoenix Community and Economic Development Department.

The Greater Phoenix commercial real estate market has been on an upswing for the past several years, according to real estate services firm Colliers International. The market outlook predicts continued improvement as Phoenix attracts relocations and expansions. Recently, the Phoenix metro area tied as the ninth-fastest growing economy among the Top 25 metros, according to the U.S. Bureau of Economy Analysis.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #238 on the 2022 FORTUNE 500®*, and is among numerous defense, energy, media, hospitality and financial FORTUNE 500®* companies based in the region. Our Phoenix-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*"FORTUNE®" and "FORTUNE 500®" are registered trademarks of Time Inc. From FORTUNE Magazine, May 2022 ©2022 Time Inc. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of Fidelity National Financial. Fidelity National Title Insurance Company is a member of the Fidelity National Financial family of companies and the nation’s largest group of title companies and title insurance underwriters that collectively issue more title insurance policies than any other title company in the United States.


The Latest Articles From the FNF Newsdesk:

Calendar: What’s driving mortgage rates the week of Nov. 28-Dec. 2, 2022
Mortgage rates are notoriously difficult to predict. They rise and fall based on market sentiment, headlines and a variety of economic indicators. Here’s a look at what could move markets...

In tough housing market, mortgage rate buydowns gain momentum

Homeowner equity data and statistics
...eye-popping gains in home equity are starting to come down as the housing market resets. As of the third quarter of 2022, collective equity among homeowners in the U.S. declined by $1.3 trillion...

10 hot housing markets for home buyers in 2023
...Taylor Marr, deputy chief economist at Redfin, in a recent report.  Mortgage rates currently above 7% may keep some prospective borrowers on the sidelines, but a record high 24.2% of homebuyers...

Even A Recession Will Only Help Home Prices So Much
...prices might at best find them “only” incredibly steep, and with higher mortgage rates, maybe as unreachable as they have been. House prices rise over time. Not always in a straight line and...

Opinion: Three things George Washington gave thanks for
...years of the Covid-19 pandemic, US home prices boomed. Now, sharply higher mortgage rates are making home ownership less affordable and prices are starting to fall as a result. There is a silver...

Title insurance is burning through homebuyers' pockets — and filling up their lawyers'

Real Estate Entrepreneur Educates With Strategies For The Wholesale Market
...the potential in the market, especially in Miami, where it skyrocketed with home sales. Once I realized that real estate was what I wanted, I had to figure out what type of real estate I wanted...

Lowes Stock Is On The Rise After Earnings, Despite Housing Market Dip
...play to listen to this article! Got it! Key Takeaways As the housing market slows, more homeowners are choosing to improve their current homes. Online sales and purchases of $500 or more continue...

Real Estate Trends: Homebuilder Sentiment Drops Along With Housing Prices
...indicates that home builder sentiment has fallen for 10 consecutive months. The housing market is facing multiple challenges, including relatively high mortgage rates and inflationary pressure...