Apartment rents in Phoenix dipped another 0.4% in November, marking 10 straight months of declines and a 3.2% drop so far this year. Heavy deliveries of high-end units are dragging down rents across luxury and mid-tier properties, leading to widespread concessions. Even older, more affordable communities are offering discounts as operators prioritize occupancy over revenue growth.
Source: https://www.orionprop.com/topfive/phoenix-apartment-rents-continued-to-slide-in-november/
