{"id":464,"date":"2021-01-14T13:15:01","date_gmt":"2021-01-14T13:15:01","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=464"},"modified":"2023-03-10T08:13:34","modified_gmt":"2023-03-10T08:13:34","slug":"phoenix-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/","title":{"rendered":"Phoenix Housing Market Trends &#8211; Winter 2021"},"content":{"rendered":"<h2>Strong Demographics Support Rental Demand<\/h2>\n<p>Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle and the pandemic has exacerbated that trend. This has benefited the metro\u2019s multifamily market, boosting demand for multifamily units, which pushed the average rent up 0.8% on a trailing three-month basis through November, to $1,259. Even so, the figure trailed the $1,465 U.S. average, which was flat for the fourth consecutive month.<\/p>\n<p>Employment growth in the 12 months ending in September marked a 4.2% decline, well above the -9.3% national level. The unemployment rate slid to 6.2% in September, following a spike in the number of virus cases in midsummer. October preliminary data pointed to an increase to 7.5%. Two sectors added jobs in the year ending in September, including the metro\u2019s largest\u2014trade, transportation and utilities\u2014which expanded 2.6%. The sector benefited from its ability to adapt to the current situation and from Amazon\u2019s planned expansion, which was projected to bring 3,000 new jobs ahead of the holiday season.<\/p>\n<p>Development maintained pace, with 8,218 units delivered in 2020 through November and another 26,483 under construction. Meanwhile, nearly $4.4 billion in assets traded, for a per-unit price that rose 12.8% year-over-year to $182,669.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1181-MatrixMultifamilyPhoenixReport-Winter2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily Phoenix Report-Winter 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Strong Demographics Support Rental Demand Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle and the pandemic has exacerbated that trend. This has benefited the metro\u2019s multifamily market, boosting demand for multifamily units, which pushed the average rent up 0.8% [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,457],"class_list":["post-464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","tag-phoenix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Phoenix Housing Market Trends - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Housing Market Trends - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-14T13:15:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:13:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix Housing Market Trends - Winter 2021 - Yardi Matrix Blog","description":"Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix Housing Market Trends - Winter 2021","og_description":"Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle.","og_url":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-01-14T13:15:01+00:00","article_modified_time":"2023-03-10T08:13:34+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anca Gagiuc","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"Phoenix Housing Market Trends &#8211; Winter 2021","datePublished":"2021-01-14T13:15:01+00:00","dateModified":"2023-03-10T08:13:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/"},"wordCount":215,"commentCount":0,"publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","keywords":["Multifamily Outlook 2021","Phoenix"],"articleSection":["Metro Reports","Multifamily Market","Real Estate Trends"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/","url":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/","name":"Phoenix Housing Market Trends - Winter 2021 - Yardi Matrix Blog","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#primaryimage"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","datePublished":"2021-01-14T13:15:01+00:00","dateModified":"2023-03-10T08:13:34+00:00","description":"Phoenix\u2019s proximity to denser, more expensive cities had been fueling migration of both residents and businesses during the second part of the last cycle.","breadcrumb":{"@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#primaryimage","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","width":1200,"height":628,"caption":"Image by DCorn\/iStockphotos.com"},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardimatrix.com\/blog\/phoenix-housing-market-trends-winter-2021\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardimatrix.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Phoenix Housing Market Trends &#8211; Winter 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.yardimatrix.com\/blog\/#website","url":"https:\/\/www.yardimatrix.com\/blog\/","name":"Yardi Matrix Blog","description":"Stay current with the latest commercial real estate market trends and forecasts","publisher":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardimatrix.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.yardimatrix.com\/blog\/#organization","name":"Yardi Matrix","url":"https:\/\/www.yardimatrix.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","contentUrl":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2020\/11\/Inline_Matrix_Color_es-1.jpg","width":200,"height":39,"caption":"Yardi Matrix"},"image":{"@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.linkedin.com\/company\/yardi-matrix\/","https:\/\/www.youtube.com\/channel\/UCRHgAZL4YoyeNEdiRN5uj0g"]},{"@type":"Person","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0","name":"lilianam","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/45984043e497a4c112cc391ba1c7376592e14880c782c889d4abfed0aeefa8ad?s=96&d=mm&r=g","caption":"lilianam"},"url":""}]}},"jetpack_featured_media_url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/02\/Phoenix-Winter-2021-iStock-1215430434.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/comments?post=464"}],"version-history":[{"count":4,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/464\/revisions"}],"predecessor-version":[{"id":4274,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/posts\/464\/revisions\/4274"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media\/465"}],"wp:attachment":[{"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/media?parent=464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/categories?post=464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardimatrix.com\/blog\/wp-json\/wp\/v2\/tags?post=464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}