Attached is the presentation made by Kasten Long Commercial Group at the new quarterly KLCG – AMA Independent Rental Owner’s group meeting. There were more than 100 attendees. Most of the data provided verifies and expands on the articles in this e-zine.
Phoenix and Arizona both were among the top cities and states for job growth last year, according to a new economic analysis from Arizona State University. Released today, the analysis shows that Phoenix saw job growth of 3.1 percent in 2016, while Arizona saw job growth of 2.6 percent.
More then 34 percent of millennials in the U.S. are living at home with their parents, according to a new report from real estate firm Abodo.com. Abodo looked at U.S. Census Bureau data and found 31.9 percent of millennials (age 18 to 34) in the Phoenix metro area are living with their parents.
Job gains are projected to improve and vacancy rates are expected to decline some this year in the Phoenix real estate market, according to a new forecast by Marcus & Millichap Inc. (NYSE: MMI). But Phoenix is still projected to have more empty office space than most other big U.S. real estate markets, according to the same forecast.
Phoenix’s average rent reached a new high this past February at $976 compared to 2016’s February average rent at $935, according to Axiometrics an apartment and student housing analytics firm. The Phoenix annual effective rent growth for February is at 4.4 percent, with a 94.6 percent occupancy rate in Phoenix, according to the report. The average rent increased $8 in February, the largest month-over-month change in the Phoenix market since April 2016
12,759 Units Under Construction In addition to the 12,759 units currently under construction, there are 19,254 planned and 9,137 units noted as Prospective. That's a total of 41,150 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.