To do the best job possible for a client – a real estate agent/broker needs market knowledge and expertise to competently evaluate and promote an investment property. These are the fundamentals of CCIM. We’ve been a sponsor for the local chapter of CCIM for many years and most of our agents are CCIM designees. Give Tiffany a call if you have any interest in knowing more about the benefits of being a CCIM.
CoreLogic says Phoenix home prices are up 6 percent from January 2017 to January 2018, but the market may be overvalued. Phoenix home prices were on the rise through 2017 and now into 2018, but the market is one of a couple dozen in the U.S. now considered overvalued, according to the CoreLogic Home Price Index. The latest results, released Tuesday, show home prices in January 2018 were up 6 percent for the Valley, but are still about 15.7 percent below peak home prices hit in 2006.
Apt/Condo Construction Rebounds Sharply in January; Office, Hotel and Warehouse Construction Declines 15% Pasternack Properties broke ground on the 1.1 million-square-foot Warehouse 1 in the TEN Distribution Center industrial park in Phoenix, the first of six buildings planned for the $300 million, 3.6 million-square-foot industrial park. The value of new multifamily development starts jumped nearly 40% while nonresidential construction turned flat or declined in January as U.S. construction entered 2018 in a state of “decelerating expansion,” according to recent data from Dodge Data & Analytics.
Property managers offered free rent to attract residents at roughly one-third (30.0 percent to 35.0 percent) of apartments in cities including Las Vegas, San Antonio and New York.
As the percentage of vacant apartments creeps higher in cities and towns across the country, more property managers are offering months of free rent to potential residents to get them to sign leases. Not all segments of the market are afflicted equally, however. Managers of apartments at newly constructed properties and those that compete with new construction for renters are the most likely to have to offer something extra to close the deal.
16,731 Units Under Construction
In addition to the 16,731 units currently under construction, there are 11,100 planned and 12,727 units noted as Prospective. That's a total of 40,560 units.
Email Jim for detailed list of new construction or use the map link above
Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
CLICK HERE for a detailed list of Apartments Available or use the map link above.
