The 2019 economic outlook appears favorable as it relates to the commercial real estate market in Arizona.
Growth in the apartment sector will continue despite a modest increase in vacancies as new product has been added to the market. Rental home communities still remain a product to keep an eye on.
Population growth and job creation will positively impact industrial, office and retail sectors, if even at modest levels. The housing supply also remains low, which should provide long-term benefits to the general housing sector.
Overall, I believe growth will be moderate and at sustainable levels in all sectors.
– Doug Reynolds, Washington Federal