Phoenix multifamily market hits strongest level in 10 years

By AZRE

Colliers International in Greater Phoenix released its mid-year 2016 Multifamily Statistics, which reports that the past three months were the strongest quarter in 10 years for property sales. The multifamily market is expected to continue its improvement during the second half of the year.

Investment activity reached its highest point since 2007 this past quarter with the greatest increase in transaction velocity occurring in properties selling for more than $20 million. Prices are rising in response to robust demand and improving property fundamentals.

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July 27, 2016

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