Phoenix rental market update

Nice piece from the Arizona Republic on the flat Phoenix rental market.

“The most commonly offered concession is one month free with a 12-month lease.

… the Valley’s apartment-vacancy rate climbed to record high of 12.4 percent for the second quarter of this year.

Here is an accompanying piece on Arizona condo conversions and re-conversions.

Last year, 20 out of the 28 projects that had converted to condos reconverted to rentals in some capacity…

The oversupply caused by condo conversions in 2006 has brought Scottsdale condo prices down to an attractive level in my opinion. If you are looking for a Arizona vacation home, an investment property, or your first home, Scottsdale condos deserve a look.

August 16, 2008 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

Visit Authors Website →