Based on a survey and interview process conducted by the Urban Land Institute and PwC, Phoenix ranked in the top 20 within the country as a high growth market to watch in 2016. The study was conducted from a wide range of industry experts including investors, developers, lenders, brokers advisors, consultants, fund managers and property companies.
The growth potential Phoenix has to offer, especially in sectors that will benefit from its growing population base, was considered favorable. Some concerns were revealed that the potential for new development could be starting prematurely.
The 2016 outlook for the commercial and residential sectors of Phoenix are fairly even. The sectors that stand to benefit directly from population growth are ranked slightly higher than the other sectors. According to the study, the industrial sector should benefit from an increase in regional and local distribution. The local Phoenix market may be slightly more conservative in its outlook than the broader survey group.
The local perception of the economy and investor demand remain good, but capital availability and development opportunities are seen as being slightly weaker.
UNEMPLOYMENT RATE
5.6% JAN 2016
Continues to decrease
(Arizona)
POPULATION GROWTH
1.6% EOY 2015
4,474,400
(Phoenix Metro)
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