IREM CCIM Economic Forecast 2015 - Arizona REALTOR® Voice

AAR was proud to be a sponsor of the IREM CCIM Economic Forecast this year! There was a phenomenal turnout of professionals from the commercial real estate community. The day included several insightful panels covering industrial, muti-family, retail and office real estate.

Some insight (and predictions) that came out of the mulit-family panel included:

Slowing in single family homes has helped multi-families and rent grow
There has been and there will continue to be great rent growth on value add product
- These include amenities, club house upgrades and residence upgrades including granite, new appliances, cabinet upgrades and adding in unit washer/dryer
Not just millennials are renting – people of all ages, and people with much higher incomes, are choosing to rent and choosing to live in a more urban environment
In the Valley there are currently 250,000 rental homes – and only 4% vacancy!

The conference also honored Valley and sports legend Jerry Colangelo, who served as keynote speaker and also received

Overall the forecast for 2015 was more of the same from 2014 – not bad, not great, but steady. Here are some shots from the conference!