As another sign of the Valley’s economic recovery, retail vacancy rates for Metropolitan Phoenix have fallen into the single-digit range for the first time since 2008. That’s according to recent retail studies by commercial real estate firm CBRE’s Phoenix office. CBRE Vice President Greg Abbott will discuss the Valley’s 9.6 percent retail vacancy rate.
The latest census data show a staggering number of vacant homes in the Valley. East Valley real estate broker Cindy Sessions and Fletcher Wilcox, a vice president and real estate analyst for Grand Canyon Title Agency, discuss what the numbers say about the area’s real estate market.