How Much Home Price Growth is Slowing in the Valley

By Angela Gonzales | Phoenix Business Journal Home price growth in metro Phoenix is sinking like a lead balloon. For nearly three years, Phoenix had led the nation in home price growth until March, when the metro dropped into second place. It’s been on a steady decline since then, dropping to No. 7 on the …

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Forty-two Percent of Metro Phoenix Homes Are Available for Rent

By Angela Gonzales | Phoenix Business Journal Metro Phoenix currently has 3,252 single-family homes available for sale and a total of 2,365 single-family homes for rent for a total of 5,617 units available, said Keith Burton, Realtor with The Rider Elite Team in Scottsdale. “This converts to 42% of homes available for rent,” he said. …

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Single-Family Rental Rates Here are Twice the National Average

By Angela Gonzales | Phoenix Business Journal Single-family home rent prices experienced extensive growth during 2021 nationwide, increasing an average of 7.8% compared to 2.6% in 2020, according to CoreLogic’s latest Single-Family Rent Index. In metro Phoenix, single-family rents rose 18.9% year over year in December 2021, up from 11.1% in December 2020. “Strong employment …

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Rental Occupancy Hits 40 Year High in Metro Phoenix

By Brent Ruffner | Phoenix Independent The Phoenix metro is at its highest occupancy percentage in more than 40 years, despite increasing rents around the region, according to a local housing research expert. Thomas Brophy, national research director at Colliers in Phoenix, said the current occupancy rate is 97.1% — the highest since that number …

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Local Experts Says Eviction Crisis Less Likely to Impact Arizona

By Matt Roy | Daily Independent As federal protections for renters distressed by the ongoing COVID-19 public health crisis are set to expire at the end of the month, officials and experts wonder what impact a long-dreaded eviction spike may have in Arizona. The eviction moratorium enacted by Gov. Doug Ducey last March expired at …

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Hybrid Build-to-Rent Construction Ramping Up Across Metro Phoenix

By Angela Gonzales | Phoenix Business Journal Nearly two dozen build-to-rent projects representing more than 3,800 units are under construction across metro Phoenix, as this hybrid model of single-family homes built in a rental community grows in popularity among renters, builders and investors. With more than 3,750 units already existing in the market, another 4,700 …

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Scottsdale Investor Buying Up Land for Single-Family Hybrid Rentals

By Angela Gonzales | Phoenix Business Journal A Scottsdale multifamily investor is in the midst of a giant pivot as it buys land to build more single-family hybrid rental communities. With two projects already under construction near South Mountain, Avenue North LLC is working on two more projects in Phoenix and another in Las Vegas. …

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Demand Pushes Valley Year Over Year Home Price Gains to #1

By Angela Gonzales | Phoenix Business Journal Once again, Phoenix has reported the highest year-over-year gains in home price growth, well ahead of other key U.S. cities. With a 9% year-over-year gain in May among 19 cities measured by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, Phoenix was followed by Seattle, at …

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Phoenix Home Price Gains Now Highest In the U.S.

By Angela Gonzales | Phoenix Business Journal Phoenix has topped the nation in annual home price gains, according to the latest results of the S&P CoreLogic Case-Shiller Indices. Data through December 2019 revealed year-over-year price increases of 6.5% in Phoenix — nearly double the national average — followed by 5.3% in Charlotte, North Carolina, and …

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