April 26, 2024 10:55 am
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Phoenix 7th hottest market for new apartments

Apartment-ConstructionThe CBRE Group Inc. real estate firm says more than 8,200 new apartment units will be built in the Phoenix metro area next year, ranking it seventh among U.S. cities as multifamily developments.

Phoenix is expected to build more new apartment units than Atlanta (7,400), Los Angeles (7,100) and Boston (6,800)

The Phoenix market has seen a lot of new apartments being built with housing demand down and mortgage qualifications tougher.

Scottsdale, Chandler, central Phoenix and Tempe are all seeing plenty of new apartments.

Here are the top multifamily construction markets from CBRE:

Houston: 19,700

Dallas: 16,200

New York: 12,200

Washington D.C.: 10,900

Seattle: 10,600

Denver: 8,700

Phoenix: 8,200

Atlanta: 7,400

Los Angeles: 7,000

Boston: 6,800

Source: CBRE

Information from Phoenix Business Journal

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.