Arizona

Arizona Rental Housing Journal June 2019

Rental Housing Journal Arizona June 2019 with helpful, useful information for landlords and property managers of rental property

Arizona Rental Housing Journal May 2019

Rental Housing Journal Arizona Print Edition May 2019

Arizona Rental Housing Journal April 2019

Rental Housing Journal Arizona April 2019

Arizona Rental Housing Journal March 2019

Rental Housing Journal Arizona Print Edition March 2019

 February 2019

Rental Housing Journal Arizona February 2019

January 2019

Rental Housing Journal Arizona for January 2019

December 2018

Arizona Rental Housing Journal December 2018

 

 

 

 

 

 

 

 

 

 

 

 

The Arizona Rental Housing Journal edition  provides helpful, useful information every month for owners, landlords, property managers and maintenance personnel in the multifamily industry. The Arizona edition of is delivered straight to the mailboxes at many multifamily locations throughout the Phoenix, Tucson and Flagstaff areas. If you would like to receive the Arizona edition each month you can subscribe here. Also if you would like to let us know about your business or provide a news tip or other information for print or online, you can contact us here and we will get right back to you.

2019 could be shaping up to be a weak year while demand in the desert grows

“This is notable because the bulk of rent growth tends to occur in the first half of the year. If the past is any guide, 2019 would be hard-pressed to continue the bullish outcomes of the last six years if things don’t improve quickly,” Yardi Matrix says in the report.

“If the past is any guide, 2019 would be hard-pressed to continue the bullish outcomes of the last six years if things don’t improve quickly,” the report says.

Year-over-year rent growth tops in Phoenix and Las Vegas

Demand in the desert continues to show up in the year-over-year numbers Yardi Matrix says in the report.

  • Rents increased 2.5% year-over-year in May, down 50 basis points from April and 80 basis points from March. The year-to-date increase of 1.2% is the slowest rate of growth since 2011.
  • Renter by Necessity (3.0%) continues to grow at a faster rate than Lifestyle (1.7%). Only eight metros top the 2.5% overall national average in Lifestyle rents, but 22 metros top 2.5% growth in RBN rents.
  • Phoenix (6.8%) overtook Las Vegas (6.6%) in May to lead the rankings. The metros are one and two in both Lifestyle and RBN rent growth, and both have increased occupancy rates of stabilized properties by 20 basis points over the past year (Las Vegas to 95.0% and Phoenix to 95.5%) despite adding a significant amount of new supply. Meanwhile, Houston (0.4%) and Seattle (0.8%) have the weakest growth.

“The National Association of Business Economists released a survey that found a growing number of prognosticators increasing the odds that a recession will start in 2020,” the report says.

“Even though a recession in the near term remains a minority opinion, however, the downside risks are growing. The biggest reason cited is trade uncertainty, with 88% of economists surveyed downgrading growth forecasts because of President Trump’s policies on trade, which include tariffs on imports from China and Mexico. The other top reasons cited for the weaker growth outlook are stock market volatility and slowing global growth,” Yardi Matrix says in the report.