Ep. 26: PHX 1st in US for new residents in 2020/Multifamily market is hot
Multifamily Masterclass
English - February 24, 2021 23:00 - 16 minutes - 15.4 MBBusiness investing money jamison neighborhoodventures realestatecrowdfunding realestateinvesting reinvesting Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
With the increase of new residents moving to Phoenix, and real estate being scarce; Jamison and Rocky provide insight into what sets the Phoenix metro and multifamily market apart from other cities. ▪ "The rankings back up what Valley residents are seeing on the ground: there is no ceiling in sight for the housing market, and housing prices have been rising steadily for months." (Phoenix Business Journal) https://www.bizjournals.com/phoenix/news/2021/02/15/redfin-phoenix-rank-in-net-inflow-[…]2lJanRyWkIrN2llZTgxUyt3TTd4WFZEN2t2ZTBTdW5zVjlhTW13M0E9PSJ9 ▪ "Over the past decade, the price-per-unit (PPU) for multifamily properties surged 156%, reaching nearly $160,000. This increase surpassed both median home sale prices and rental rates." ▪ "Phoenix is the sixth hottest U.S. market for multifamily sales over the last decade. Since 2009, Phoenix has registered more than $42 billion in multifamily sales." ▪ "In terms of transactions, 1,711 deals were completed across the metro since 2009, totaling 385,717 units." (AZBigMedia) https://azbigmedia.com/real-estate/phoenix-ranks-no-6-among-hottest-multifamily-markets/