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  • Writer's pictureSamantha DelDebbio

Will We See A Resurgence of Activity in the Phoenix Market Late 2024?

In the midst of a challenging commercial real estate landscape, CBRE predicts a mid-2024 resurgence in multifamily transactions. This optimism stems from factors like the conclusion of the Fed's rate-hiking cycle, improved capital market conditions, and opportunities created by loan maturities. While overall deal volume decreased by 8.5% in Q3, the multifamily sector remains seemingly resilient, accounting for 34% of investments in the same period, setting the stage for a potential recovery.

Interestingly, specific markets show varying trends, with gateway cities like New York and Los Angeles experiencing declines, while cities like Phoenix and Dallas witness notable gains. Dallas-Fort Worth leads the way, representing 71% of total investment volume in the past four quarters. The multifamily sector, including promising markets like Phoenix, appears poised for growth amidst broader challenges in the commercial real estate industry.

You can read the full article here from Globest and leave your thoughts or comments below!

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