January 7, 2013

Qtr 4 2012 – The Metro Phoenix Apartment Market

By | 2017-10-04T14:31:24+00:00 January 7th, 2013|

In the 4th quarter, there were 79 regular apartment sales (10+ units), a significant increase over recent quarters.  In addition, there were five portfolio sales of two or more properties.  This last quarter saw over half-billion in sales ($509,574,300) with 8,337 total units.  There were 29 communities sold with more than [...]

January 7, 2013

4th Qtr 2012 MF Permitting Making Strong Comeback

By | 2017-10-04T14:31:24+00:00 January 7th, 2013|

For the past three years, the number of permits for new apartment construction averaged about 1,000/yr.  Over the past ten years, the average was 3,840/yr.  As of the 4th quarter of this year, the number of permits  jumped  to  more  than  10,000 for the year with many projects already breaking ground.  Both ASU [...]

January 7, 2013

4th Qtr 2012 Multi-family Vacancy Rates Drop – Rents Increase

By | 2017-10-04T14:31:24+00:00 January 7th, 2013|

For the larger (100+ unit size) apartments, vacancy rates dropped across the Valley from 6.4% in the 3rd quarter to 6.3% in the 4th.  This was the 12th continuous quarterly drop in vacancy rates for 100+ unit apartments - from a high at the end of 2009.   Rental rates continued to escalate [...]