Phoenix ranks among top apartment markets

By Mike Sunnucks | Phoenix Business Journal

Don’t count out the apartment wave just yet.

The Phoenix metro area ranked among the top multifamily markets for net leasing in the U.S. in the first quarter, according to new data from CBRE Group (NYSE: CBG).

New York – including Newark and Long Island — saw the most apartment absorption (or net leasing) in the first quarter with 6,400 units rented.

Phoenix was fourth with 3,300 units absorbed behind only New York, San Francisco (3,600) and Washington D.C. (3,400).

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May 9, 2017

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