Phoenix

The self-touring trend erupted last year, but with social distancing measures, it is crucial to apartment leasing.

Along with its joint venture partner, Hines acquires 11 acres to develop a 325-unit luxury for-rent residential property in north Phoenix.

Many brokers have shifted to virtual showings and meetings to sell properties during the pandemic, but the trend could outlive social distancing.

Rising interest rates and restricted capital is also a major impact on the Phoenix market.

Job growth has been a major driver of expansion in Phoenix, but the job diversity gained in recent years will help keep the market on track.

Optima Kierland has transitioned to all-digital showings in response to the pandemic, and has completed two sales.

Long-term residential housing investors are seeing opportunity with the possibility of pricing adjustments.

Apartments, industrial, retail and hotels all saw cap rate compression in the second half of last year.