Loading...
You are here:  Home  >  Real Estate  >  Current Article

Is Phoenix apartment market a candidate for overbuilding?

Posted by   /  September 13, 2017  /  No Comments

    Print       Email

Aura Watermark/AZBigMedia

AZRE

The Phoenix apartment market has notched a strong two years, as occupancy has remained essentially full and rent growth levels have trended well above national norms.

A key factor shaping this performance is that deliveries to date in this cycle haven’t been over the top. But this is a spot where the building pace can escalate rapidly, and there has been a run-up of activity lately.

A total of 13,356 units were under construction at the end of 2nd quarter 2017, the fourth straight quarter in which construction volumes topped the 13,000-unit mark. Those levels are in line with the ongoing construction highs seen in the previous cycle’s peak in 2007 and 2008.

READ ON:

    Print       Email
  • Published: 2 weeks ago on September 13, 2017
  • Posted by:
  • Last Modified: September 13, 2017 @ 9:22 am
  • Filed Under: Real Estate
  • Tagged With: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

You might also like...

Brokerage closes first bitcoin home purchase in Texas

Read More →