Market Intel

Intel

These Arizona Cities Have Become Magnets for New Renters

In a recent StorageCafe study, cities across the U.S. were ranked by how much they had attracted new renters in 2021, as a proportion of their populations. Arizona made a strong showing, with Tempe in the top 10 and Scottsdale in the top 20. For every renter who chose to leave town, Tempe saw almost double the number arriving while Scottsdale saw slightly more than double. Tempe received most of its new renters from Phoenix itself,

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Intel

Homeowners Spin Soaring Prices Into U.S. Real Estate Riches

The U.S. housing boom is creating a new class of real estate tycoons with an easy source of financing: their own homes. Soaring prices have showered property owners with record equity windfalls, sending cash-out refinancings to levels not seen since the peak of mid-2000s housing frenzy. For some people, that means cash for a remodel or vacation. But others are putting that money to work by buying second, third or even 10th houses.  “With the pandemic,

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Intel

Phoenix No. 1 in Nation by Number of Built-to-Rent Houses

As renters look for a lifestyle change that offers more space and privacy, communities of single-family built-to-rent houses have become the hottest trend in housing. 2021 was a record year for single-family rental home construction, with 6,740 new built-to-rent homes completed. And, the trend is growing rapidly: twice as many homes are now under construction, for a total of nearly 14,000 set to open their doors to renters beginning this year. Cleverly described by some

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Intel

Work Begins on Massive Mixed-Use Development in Downtown Phoenix

“Downtown Phoenix is a rising hot spot, and Central Station sets a new standard for transit-oriented development elevating the vibrancy of our city,” Phoenix mayor Kate Gallego said at the ceremonial groundbreaking. “The care and thoughtful design set a tone for the city’s future. It’s projects like this that are among the reasons more people choose Phoenix as their new home than any other U.S. city.” Real estate developer and owner GMH Communities has partnered

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Intel

As Developers Struggle to Meet Arizona Housing Demand, Experts Seek Solutions

The Arizona Multihousing Association (AMA) has launched a new program called Arizona Housing for All, which will address the regulatory issues at the local, state, and federal levels to combat the housing supply and demand issues that are driving up rental prices. Arizona’s population grew by 100,000 last year, or about 300 new residents per day, putting the total population at more than 7.7 million. This surge in growth was also accompanied by a surge in housing

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Intel

Metro Phoenix Ranks No. 3 in U.S. for Biggest Home Price Increase

The busy spring season got off to another strong start this year. March home sales jumped 32.2% over February while posting a report record Median Sales Price of $360,000, according to RE/MAX’s March National Housing Report. In Metro Phoenix, the median sales price for a home jumped from $360,000 in March of 2021 to $462,500 in March of 2022 — a 28.5% home price increase year over year, the third-highest increase in the nation.  Here is a

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Intel

Top 10 Most Frequently Traded Multifamily Assets of the Past Decade

The multifamily industry continued to see strong performance across fundamentals at the end of the first quarter of 2022, spurred by extraordinary demand. The kind of demand that transformed the market, pushing asking rents and occupancy to new historic highs in 2021. This incredible growth was largely driven by smaller, secondary metros, which during the pandemic became magnets for people leaving large, densely populated coastal areas. Working from home opened the door to residences with

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Intel

MRI Software: Multifamily Market Heating Up for Summer Season

Recent data from MRI Software finds that the multifamily industry is shaking off the lingering effects of the COVID-19 pandemic. Its latest report shows significant increases in rent pricing for new leases in combination with a decline in concessions. New lease pricing is up by approximately 20% in the past eight months, with MRI predicting that it is likely to stay “hot throughout summer,” the prime leasing season. Concessions, which have been increasingly popular since the start

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Intel

Trendy Colors in Multifamily Interior Design

The past couple of years have shown how important it is to live in a home that not only has comfortable, flexible, functional spaces, but also supports one’s health and mental wellbeing. Multifamily interior design specialists know that colors can make or break a room, creating a relaxing atmosphere, fresh living spaces and a perfect overall harmony.    “People do better when their environments give them a place to recharge, innovate and contemplate. The importance of

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Intel

Single-Family Rentals Hot as Potential Inflation Hedge

Inflation is here, and shows no signs of stopping. The Consumer Price Index reached 283.716 points in February 2022, nearly 8% higher than in February 2021 – the largest year-over-year increase in 40 years. Investors are increasingly relying on the bromide that real estate can be a good inflation hedge. But some types can be a better hedge than others, says Gary Beasley, CEO and co-founder of Roofstock. And residential real estate—single-family rentals (SFRs) in particular—should be

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