Pete O'Neil

Land sales appear to be slowing in Phoenix. According to research from Colliers International, land sales were down 25% in the first half of the year, compared to the second half of 2017. However, land sales are up 20% compared to the same time period in 2017. While these numbers show that land sales are still strong in the Phoenix market, sales activity has also lost momentum since the end of last year.

“While we slowed in the first half 2018 compared to the second half of 2017, the second half of 2017 was our cyclical peak in the market for land sales,” Pete O'Neil research director of the Greater Phoenix at Colliers International, tells GlobeSt.com. “If I compare it the first half of 2018 to the first half of 2017, however, we are up 20%. It is tough to decide what is the most appropriate comparison. I would say that it is mixed. We are off to a strong start, but we are not sustaining the momentum when we were at the absolute peak, which turned out to be the end of last year.”

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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.