Real Estate

Arizona Economic Dashboard

Real Estate

The real estate sector plays a critical role in Arizona’s economy as an important driver of prosperity and economic growth across the state. During the Great Recession, Arizona’s housing market and commercial real estate sectors were key indicators of overall economic health, and experts anticipate that they will be key indicators during the post COVID-19 recovery.

Net Absorption & Vacancy
Housing Starts
Permits Issued
Housing Price Index
Foreclosures

Net Absorption

This is a measurement of the net change of the supply of commercial space in a given real estate market over a specific period of time. It is measured by deducting commercial space vacated by tenants and made available on the commercial space market from total space leased.

Data below reflects Phoenix Metro.

Source: CBRE Research

Vacancy

The percentage of unoccupied buildings in a given real estate market.

Data below reflects Phoenix Metro.

Source: CBRE Research

Thank you to CBRE for providing real estate data!

Housing Starts

This is the number of new residential construction projects in Arizona that begin during any particular quarter.

Source: Oxford Economics and CBRE Research

Permits Issued

The number of residential building permits issued in Arizona during any given quarter.

Source: Oxford Economics and CBRE Research

Housing Price Index

The measurement of the price change in housing sales across Arizona by quarter.

Foreclosures

Foreclosure Rates: The proportion of properties by county that received a foreclosure filing during the prior month in Arizona.

Foreclosure Activity: The number of new foreclosure filings in Arizona by month.

Source: RealtyTrac

Health Care

This baseline data tracks important COVID-19 statistics to show changes from the onset, throughout the recovery period, and beyond.

Economy

Economic metrics provide a snapshot of the status of Arizona’s economy and tracks progress toward economic recovery.

Real Estate

Arizona’s housing market and commercial real estate sectors will be key indicators during the post COVID-19 recovery.

Workforce

Monitoring workforce, job creation and retention, and talent pipeline data is fundamental to supporting the economy.