Phoenix Multifamily Rebounded in Q3

 

Following a decline in Q1 and a halt in activity through Q2 of 2020, the Phoenix Multifamily market has seen a significant rebound through Q3.

ABI Multifamily has reported closings on 12 apartment sales in October of 2020 and 40 properties set to trade before the end of the year. While there was a pricing corrections seen in the early days of the pandemic, ABI is currently reporting pre-pandemic values and rental growth in the market.

Phoenix has long been a popular area for multifamily investors however the pandemic shut downs in some states, rent control in California and overall uncertainty in the market has brought an influx of interest back to the area. With a low cost of living and high in-migration, Phoenix is building on its fundamentals and starting to see steady growth.

Ron Cadman is a Director of Investar USA, an active Build For Rent Development Company in the southwest United States. 

Comments

Post a Comment

Popular posts from this blog

How Healthy is the Housing Market for 2020? Ron Cadman Discusses Residential Real Estate Investment Prospects

The Realtor.com housing forecast indicates that the market for entry-level housing will strengthen, affordability will be new home buyers’ chief concern, and millennials will be the largest segment of the home buying population. Real estate developer and co-founder of Investar USA Ron Cadman discusses these and other housing market trends for 2020. Ron Cadman specializes in multifamily rental housing. What can we expect from the housing market in 2020? For sellers, affordability will be the key factor, with supplies being limited in most regions due to insufficient construction. Here are some of the trends we can expect in the coming year. The housing market will be dominated by the millennial population. 2020 will be the year the majority of millennials will enter their 30s – standard home-buying age – and will account for more than half of all mortgages. Supply will fail to meet demand. Entry-level home inventory will not be sufficient for the number of new home buyers, in ...
Read more

This is not a typical recession says Ron Cadman of Investar USA.

  This is not a typical recession says Ron Cadman of Investar USA. This is not a typical recession says Ron Cadman of Investar USA. People have lost jobs due to a government induced recession and Congress decided to break until September with no regard for the mess they created. Politics is taking priority over collaboration and addressing the real issues impacting America’s working class resulting from Covid-19. Those of us with hard assets are fine and are seeing asset values rise while the working class have lost jobs and are sliding deeper into debt. According to a recent analysis by John Friedman, an economics professor at Brown University, U.S. stocks are hovering near a record high, a stunning comeback since March that underscores the new phase the economy has entered: The wealthy have begun to recover. The bottom half remain far from it. This dichotomy is evident in many facets of the economy, especially in employment. Jobs have returned for the highest wage earne...
Read more