Strong rent growth and robust appreciation have prompted investors to continue buying up apartment buildings in the Phoenix market.
Many potential homebuyers have been priced out of the Phoenix metro housing market after prices have become out of reach for some families, according to Matt Roach, vice president at Colliers.
That has spurred rent growth among apartments and the region a hot market for buying and selling the complexes as the median price for single-family homes in the Valley currently stands at $475,000.
