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Is Phoenix apartment market a candidate for overbuilding?

Posted by   /  September 13, 2017  /  No Comments

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Aura Watermark/AZBigMedia


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.


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  • Published: 7 months ago on September 13, 2017
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  • Last Modified: September 13, 2017 @ 9:22 am
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