TNO Real Estate: July 15

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Jim Poulin / Phoenix Business Journal

We see it playing out through data and in talking with our local real estate agents — the housing market isn't what it used to be at pandemic highs, thanks to mortgage rate increases. That doesn't mean it's slow, by any stretch, especially in hot Sun Belt cities.

I've noticed some regional trends in how the housing market is shifting, although the reasons for a slowdown vary widely and there's nuance based on a local economy, migration trends and housing supply.

I checked out?four key geographies of the United States that help illustrate the differences?in today's housing market, and what's on the horizon.

Here are other top real estate stories from around the ACBJ network:

1. Panasonic Holdings Corp. has finally picked where it'll build a $4 billion electric-vehicle battery plant: Kansas. The facility is expected to employ thousands and involve massive amounts of land and development, although details on the latter remain vague.
2. Amazon.com Inc. is pausing construction of its office towers in Bellevue, Washington, and Nashville, Tennessee, as it reevaluates building design in the wake of the Covid-19 pandemic.
3. Conversions are undoubtedly trendy, and with $400 million recently approved for office-to-residential projects in California, it's possible those deals will pick up steam there. Beyond money, though, challenges to convert buildings in places like downtown Los Angeles — and, outside of California, in Boston — remain.
4. The investment some companies have made in their office space may mean emphasis for employees to gather in-person to some capacity will never wane. For some companies, the office or campus is being rebranded: from corporate hub to "collaboration center."
5. Re/Max LLC is the latest real estate company to disclose a round of layoffs. The company is cutting 17% of its workforce, primarily in its technology division, by the end of the year.
6. More mass-timber high-rises may be on the horizon in the United States after a developer working on the world's tallest mass-timber building in Milwaukee wraps that project up.
7. PayPal Inc. and Amazon recently inked deals to lease more office space in Austin, Texas, and Tempe, Arizona.
8. Q&A: I caught up with the new president of Cresa, a veteran of tenant representation services in commercial real estate, about the office market and why Cresa moved from D.C. to Chicago.

Built by Ashley Fahey, editor of The National Observer: Real Estate. Reach me with tips, questions and feedback at?[email protected]