By Laura Calugar | Multi-Housing News
It’s an exciting time to be an investor or developer in Greater Phoenix! The metro’s multifamily market is enjoying some of the most robust activity in its history, mainly fueled by its diverse economy and favorable demographic trends.
According to Yardi Matrix data, multifamily sales totaled more than $8.5 billion in 2021 through September, placing Phoenix among the top spots for investment among major U.S. metros.
Several submarkets and cities in the Greater Phoenix area have been bustling with activity, as large commercial investments generate demand for housing. The $20 billion Intel expansion in Chandler, the $12 billion Taiwan Semiconductor Manufacturing Co. facility taking shape in Deer Valley, and the abundance of industrial facilities in West and Southeast Valley cities, as well as office relocations to Tempe, Scottsdale and Downtown Phoenix, have all resulted in significant boosts for Phoenix’s multifamily market.