Rents

Renters may catch break with more units on horizon

File - Workers build a home on Sept. 19, 2023, in Marshall, N.C. In Phoenix, peak deliveries for apartments should help residents “have some real power to get a good deal” on new apartments this year.

The Associated Press/Chris Carlson

Relief for renters may be on the horizon as 30,000 multifamily units are expected to be completed during the next six quarters in metro Phoenix, said Tom Brophy, a housing analyst at Colliers.

Last year, the Valley saw the second-highest year for apartment demand “damn-near all-time,” Brophy said.

“Put it this way, (it shocked) me,” Brophy said.

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