Trends

Arizona Construction Lost 5,100 Jobs in December

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 7.5 percent in December 2020, from November 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate remained at 6.7 percent from November. In December 2019, the state had a seasonally adjusted rate of 4.5 percent, and the national was

Trends

BEX Predicts Positive Growth for 2021

By Tasha Anderson for AZBEX  Despite the collective gut-punch that COVID-19 brought in 2020, Arizona’s state economy and construction industry has done really well, and BEX predicts 2021 will be another big year for construction.  Such was the overall takeaway from the BEX

Trends

Arizona Construction Gained 2,400 Jobs in November

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 7.8 percent in November 2020, from October 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 6.7 percent from 6.9 percent in October. In November 2019, the state had a seasonally adjusted rate of 4.5 percent, and the national was

Trends

Nonresidential Const. Spending Dipped in Sept.

National nonresidential construction spending fell 1.6 percent in September, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, monthly spending totaled $794.3B.   Among the 16 nonresidential subcategories, 13 were down on

Trends

Arizona Cities See Higher Rents

While Apartment List’s National Rent Index is down 1.4 percent over the last year, rents in Tucson have increased 4.7 percent since the start of the COVID-19 crisis. Since March, Tucson’s month-over-month rents are up 0.6 percent, and year-over-year increases total 5.9 percent.

Trends

Investors Flocking to Biolab Sector

By Sebastian Obando for National Real Estate Investor  Commercial real estate investors are showing increasing interest in biolab facilities as healthcare research and development has accelerated due to the pandemic.  “[There is] an increased demand for laboratory space which, when coupled

Trends

AZ Const. Reports No Job Gains/Losses in Sept.

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 6.7 percent in September 2020, from August 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 7.9 percent from 8.4 percent in August. In September 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was