Metro Phoenix Apartment Market Sees Biggest Ever Year-Over-Year Rent Increase
Metro Phoenix saw its biggest ever year-over-year increase in asking rents for apartments in the fourth quarter of 2018. Vacancy rates also dropped.
Those are among the findings reported by Pete Te Kampe, vice president of investments with Marcus & Millichap in Phoenix. His firm is also predicting rents will go up more than 6 percent this year.
Te Kampe joined The Show to talk about these trends.