Industry voices say recent deliveries pushed up vacancies and concessions, but absorption is strong and new starts are set to plunge, which could tighten the market in 12–18 months. Wage gains, high for-sale housing costs, and population growth continue to underpin apartment demand.
Source: https://azbigmedia.com/real-estate/here-are-the-metro-phoenix-multifamily-trends-to-watch/
