Scottsdale Sales Tax Receipts Show Slowing Construction, Strong Retail SalesAlthough Scottsdale's overall sales tax receipts are down by 0.8% over last year, when you look at the breakdown the picture becomes quite positive for real estate investors:
Category fiscal year-to-date changes over prior year: automotive -8.7 percent, construction -21.2 percent, food stores -3.6 percent, hotels and motels +15.5 percent, major department stores +26.2 percent, miscellaneous retail +2.6 percent, rental +7.7 percent, restaurants +7.6 percent, and utilities +0.5 percent.
Declining construction, increasing rentals, increasing tourism and sharply increased department store sales are all good signs for commercial property investors. Food stores down, restaurants up; sounds like more people are eating out.
