By Kristena Hansen | Phoenix Business Journal
The Valley’s multifamily vacancy rate dipped to 7.4 percent, its lowest level in seven years, according to the third-quarter market report by Colliers International in Phoenix. Despite that decline, rents continued upward in the third quarter, to an average of $784 per month. Click above for a look at the past decade of vacancy and rental trends in the Phoenix-area multifamily market.