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05/27/07
Job, population growth push Valley’s apartment rents up
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:20 pm

Valley apartment dwellers, take note: Rents will likely climb higher in the coming months as supply dwindles and investors look to snatch up properties. Sales of multiunit complexes have been brisk again this year, and the trend shows no sign of slowing now that the condo-conversion craze has come to a halt. In the first four months of the year, there were 48 sales of apartment complexes with 100 or more units, according to Tyler Anderson, vice chairman of CB Richard Ellis’ Phoenix office. That represents sales of $1.25 billion, he said.  More…

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