The theme of the 13th Annual IREM-CCIM Economic Forecast was “The Real Scoop.” Judging by the comments of economists and industry panelists, the message that resonated was “Phoenix and Arizona are on fire.”
“Last year we talked about being late in the game and would there be extra innings,” said keynote speaker Elliott D. Pollack. “Where do we stand in the cycle now? Well, Phoenix is the most affordable major market in the Western U.S. We’re growing at three times that of other U.S. cities and still need to figure out how to deliver affordable housing. We’re likely to remain one of the top five metro areas in the country. Overall, I’d say the picture is positive.”
The Valley’s premier real estate outlook recently drew a crowd of more than 400 at the Omni Scottsdale Montelucia. Besides Pollack, the Economic Forecast featured panelists who specialize in office, industrial, multifamily and retail properties.