Phoenix Multifamily Will Remain Unchanged Through the Year End

Expect more of the same from the Phoenix multifamily market in the second half of the year.

Roland Murphy

The Phoenix multifamily market had a phenomenal start to the year with nearly $2 billion in apartment investment activity and strong rent growth, all of which is driven by the continued growth in the job markets and population, according to a report from ABI Multifamily. For the second half of the year, expect similar performance from the Phoenix multifamily market.

:I expect investment activity to be kind of like first half, but more so. Phoenix isn’t looking at anything noteworthy in terms of new deliveries,” Roland Murphy, director of research at ABI Multifamily, tells GlobeSt.com.” Fed rate policies should keep capital freely available. Fear of that inevitable but still far off downturn will cause some owners to sell while the market is still hot, but consistently rising prices will motivate others to hold on as long as they can.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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