Mike Schwab Mike Schwab

Land investment activity is expected to pick up in the first quarter, in response to high demand for multifamily units in Phoenix. Investment sales slowed at the end of the year during the holiday season, as is common for land deals. At the start of the year, however, the market is expected to spring back as developers continue to look for multifamily development opportunities.

“There is nothing on the horizon, both nationally and locally, to disrupt the current market cycle. Interest rate increases, higher construction costs, both horizontal and vertical, and tight labor markets will continue to impact new home affordability,” Mike Schwab, principal and designated broker at Land Advisors Organization, tells GlobeSt.com. “Less affordability will cause certain potential new home buyers to stay on the sideline and remain in rental property.  Aforementioned bodes well for the multi-family developers and existing multifamily product in sub-markets where new home affordability is an issue.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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