Phoenix Multifamily Report

By Anda Rosu | Multi-Housing News

Phoenix rents stabilized on a trailing three-month basis through July, after 10 months of negative values, still under the pressure of consistent completions. The average rate was down year-over-year, at -3.5 percent as of July, marking the second-slowest rate of growth among major U.S. metros. Meanwhile, national growth decelerated to 1.6 percent, reaching $1,729. Phoenix occupancy slid 60 basis points in the 12 months ending in June, to 93.9 percent.

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