November 22, 2013

Q3 13 – New Multifamily Construction and Permitting in Phoenix

By |2017-10-04T14:31:06+00:00November 22nd, 2013|

In Q3, there were six new apartment projects started (1,417u) with a total of 25 now under construction representing 4,733 units.  Of the 25 projects, 7 are in Phoenix, 4 in Scottsdale, 4 in Chandler, 3 each in Tempe and Mesa, 2 in Gilbert and one in Youngtown. Four projects were [...]

November 22, 2013

Q3 2013 – Phoenix Vacancy Rates Drop to 7.4%

By |2017-10-04T14:31:06+00:00November 22nd, 2013|

Vacancy rates for the 3rd quarter for stabilized 50+ multifamily properties decreased from 7.7% to 7.4%.  Greater than 10% vacancy rates were reported in Metrocenter, Central Black Canyon, N and W Central Phoenix and E Mesa. Vacancy rates of less than 6% were reported in N Scottsdale, S Gilbert and S [...]

November 22, 2013

Qtr 3 2013 – The Metro Phoenix Apartment Market Part 2

By |2017-10-04T14:31:06+00:00November 22nd, 2013|

SLOW DOWN – Possibly the most notable item for the market at this time is what has happened in the past couple months – we have slowed down.  The housing market actually led the “slow down” with available inventory increasing 20% and 30% fewer transactions between July and October.  For the [...]

November 22, 2013

Qtr 3 2013 – The Metro Phoenix Apartment Market Part 1

By |2017-10-04T14:31:07+00:00November 22nd, 2013|

In Q3, there were a total of 69 individual multifamily transactions with 25 having 100+ units and 44 consisting of 10 to 100 units.  Of the 100+ units, all but four were financed, two were REO’s, one was a short sale and one was a broken condo.    Six (24%) of these [...]