As demand for new construction wanes in the midst of mortgage rate uncertainty, a new type of construction is filling the void in Phoenix and other areas of the country. "Build-to-rent" construction is a somewhat new trend that is hitting many markets, with profits on rental housing soaring. While building new multi-family housing is a challenge in many areas and fraught with political landmines, developers have found a new way to tap into the increasing need for housing and the appeal of single-family homes by providing an alternative to apartment living - complete with all the amenities you would expect to find in popular suburban communities. Phoenix Business Journal has insights on this new trend and what's planned in the Phoenix area.
_____________
We are here to help! If you want to find out how much your home is worth in this strong market, email me at [email protected]. We would be happy to help you determine if the time is right for you to sell your home or buy a new home.
