Apartment investors, developers bullish on metro Phoenix

By Angela Gonzales | Phoenix Business Journal

Multifamily developers and investors are bullish on metro Phoenix, despite interest rates staying higher than expected.

The new year promises changes, with supply growth waning and different economic policies likely to impact demand, according to a Yardi Matrix National Multifamily Report issued Jan. 13.

The multifamily sector finished 2024 on the downswing, with the average U.S. advertised rent falling $4 nationally in December to $1,742, according to the report. Year-over-year rent growth was down 10 basis points to 0.6%.

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