With New Apartments Popping Up, What’s Next For Valley Real Estate?
If you’ve driven through just about any city center in the Valley lately, you’ve probably heard the construction buzzing. Apartment complexes are popping up, especially in downtown Phoenix, central Tempe near ASU and south Scottsdale.
So, how did Arizona’s real-estate markets fare overall in 2016?
The Show’s Lauren Gilger spoke with Phoenix Business Journal senior reporter Mike Sunnucks about his look at the year-in-review of the Valley’s real-estate market.
Sunnucks said though the industry has been waiting for the boom of apartment construction to wane, it hasn’t yet, and there are several new developments in process for 2017.
But, he also said that multi-family construction isn’t booming everywhere. It’s following what Sunnucks calls the major narrative of the year: centralization.