What's Hot

    Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

    October 29, 2025

    Pinal P&Z Advances Energy Project for Data Center

    October 29, 2025

    Construction Workers Shifting Slightly Younger

    October 29, 2025
    Facebook Twitter Instagram
    AZBEX
    NEWS TICKER
    • [October 29, 2025] - Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment
    • [October 29, 2025] - Pinal P&Z Advances Energy Project for Data Center
    • [October 29, 2025] - Construction Workers Shifting Slightly Younger
    • [October 29, 2025] - Industry Professionals 10-28-25
    • [October 29, 2025] - Commercial Real Estate 10-28-25
    • [October 24, 2025] - $200M Advanced Automation Project Planned in Mesa
    • [October 24, 2025] - New Texas-to-Arizona Pipeline Planned
    • [October 24, 2025] - Diversified Partners Planning $50M Laveen Retail and Entertainment Center
    Facebook Twitter YouTube LinkedIn
    • Home
    • News
      1. View Latest
      2. ✎ Planning & Development
      3. 📰 Local News
      4. 🔎︎ Classifieds
      5. 🕵 Editorial Analysis
      6. 💰 Budgets & Funding
      7. 🏢 Commercial Real Estate
      8. 👔 People on the Move
      9. 🌵 Arizona Projects
      10. 🏛️ Legislation & Regulations
      11. 📈 Trends

      Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

      October 29, 2025

      Pinal P&Z Advances Energy Project for Data Center

      October 29, 2025

      New Texas-to-Arizona Pipeline Planned

      October 24, 2025

      Diversified Partners Planning $50M Laveen Retail and Entertainment Center

      October 24, 2025

      Davis-Monthan Air Force Base Eligible for Private Data Center

      October 24, 2025

      Federal DBE Interim Final Ruling Impacts AZ Projects & Firms

      October 21, 2025

      ADAWS Marks Potential End of Two-Year Moratorium in West Valley

      October 12, 2025

      Peoria Eyeing Billion-Dollar Advanced Water Purification Facility

      October 8, 2025

      Scottsdale Hospitals War May Heat Up with New Banner Request

      July 29, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Legislation Would Effectively Strip NIMBYs of Referendum Tool

      February 11, 2025

      2025 Forecast Tries to Clarify an Uncertain Market

      February 7, 2025

      Early voting for Coconino Community College bond begins this week

      October 7, 2025

      Yuma Funding CIP Projects with $116M Bond Issuance

      September 24, 2025

      RTA Funding Proposal Stirs Controversy

      August 15, 2025

      Ariz. LIHTC to Sunset Under New Budget

      July 8, 2025

      Commercial Real Estate 10-28-25

      October 29, 2025

      Commercial Real Estate 10-21-25

      October 21, 2025

      Commercial Real Estate 10-14-25

      October 16, 2025

      Commercial Real Estate 10-07-25

      October 7, 2025

      Industry Professionals 10-28-25

      October 29, 2025

      Industry Professionals 10-21-25

      October 21, 2025

      Industry Professionals 10-14-25

      October 16, 2025

      Industry Professionals 10-07-25

      October 7, 2025

      Arizona Projects 10-24-25

      October 24, 2025

      Arizona Projects 10-17-25

      October 17, 2025

      157-Unit Moonlight Ridge Townhomes Proposed in Pinal County

      October 12, 2025

      Arizona Projects 10-10-25

      October 12, 2025

      U.S. Senate Advances Major Housing Legislation

      October 16, 2025

      TAAAZE Files Legal Complaint Against State of Arizona Over Senate Bill 1543

      October 1, 2025

      Scottsdale to File Notice of Claim Over Axon Bill

      September 16, 2025

      Environmentalists Sue ADWR Over Benson-Area Developments

      September 2, 2025

      Construction Workers Shifting Slightly Younger

      October 29, 2025

      Builder Sentiment Shows Marked Increase in October

      October 21, 2025

      Builder Sales Expectations Up, Sentiment Steady in September

      September 23, 2025

      Ariz. Construction Added 2,900 Jobs in August

      September 23, 2025

      Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

      October 29, 2025

      Pinal P&Z Advances Energy Project for Data Center

      October 29, 2025

      Construction Workers Shifting Slightly Younger

      October 29, 2025

      Industry Professionals 10-28-25

      October 29, 2025
    • AZBEX
      • Subscribe
      • Solicitations
      • Classifieds
      • Advertising
    • DATABEX
      • DATABEX Log-In
      • Webinars
      • Monthly Snapshot
    • Events
      • 2025 Public Works Conference
      • 2025 Healthcare LMS
    • About Us
      • Meet the Company
      • Meet the Sales Team
      • Meet the Editorial Team
      • Meet the BEXperts
    • CIP Special Report
    AZBEX
    Home » Trends » Market Uncertain, but Multifamily may be Stabilizing 
    Trends

    Market Uncertain, but Multifamily may be Stabilizing 

    BEX StaffBy BEX StaffMay 9, 2023No Comments3 Mins Read
    Credit: CoStar
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Roland Murphy for AZBEX 

    Two recent articles on GlobeSt.com, written by the same reporter and published one day apart, show the U.S. multifamily market may be stabilizing, but plenty of uncertainty remains. 

    Barbara Ballinger, an industry reporter with a solid reputation, wrote in a May 1 article entitled, “April’s Apartment Rent Growth Hits Several Grim Milestones,” that apartment rents increased 1.7% in April. Using data from Apartment List, the article noted the April increase was the lowest since March 2021 and fell below the pre-pandemic average of 2.8%. 

    Ballinger said the month-over-month increase of 0.5% indicated continued deceleration in multifamily and pointed out that spring is typically a time of year when growth speeds up. This April was the second slowest for rent growth of any year since Apartment List began tracking the market in 2017. 

    She also quoted Apartment List as saying the new supply of units coming onto the market will keep prices constrained even if demand increases in the summer.  

    The first article noted different regions in the country are being impacted differently. The East Coast and Midwest are seeing a rebound, while the West, including Phoenix, which had been one of the leaders in the recent price increase surges, was continuing to see the biggest declines. 

    Ballinger’s May 2 article, “Multifamily Fundamentals Are Beginning to Stabilize,” showcased other market indicators and showed much more optimism. She reported the overall vacancy rate in multifamily increased quarter-over-quarter by 0.3%, according to CBRE, hitting 4.9% in Q1. That increase was less than the 0.7% Q4 2022 increase or the 0.9% Q2 2022 rate. 

    CBRE forecasted positive absorption in Q2, after this quarter sees negative net absorption of 1,900 units. Last quarter’s negative absorption was 14,000 units.  

    This quarter’s net absorption is already in positive territory in 35 of the 69 markets CBRE tracks. 

    Ballinger then reported new construction deliveries for the past four quarters total of 332,200, which is lower than the 343,300 total for 2022. She quoted the CBRE report as saying the currently elevated construction timelines should help even out the delivery of units in the pipeline. 

    She noted CBRE analysts as saying that while vacancy is still climbing, its slower rate indicates demand is solidifying. 

    “In short,” Ballinger said, “the multifamily sector appears to be stabilizing.” 

    We’ve often said that one period’s data sets do not make for a trend, but, assuming the source data in both Ballinger’s articles are correct, hope may be justified that the recently roiling seas of the national multifamily market could be starting to calm.  

    absorption rate analysis Apartment List Barbara Ballinger CBRE GlobeSt multifamily market national multifamily price increases rent growth trends vacancy rate
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email

    Related Posts

    Construction Workers Shifting Slightly Younger

    October 29, 2025

    Builder Sentiment Shows Marked Increase in October

    October 21, 2025

    808KSF Industrial Redevelopment Planned in Deer Valley

    October 17, 2025

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Our Picks

    Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

    October 29, 2025

    Pinal P&Z Advances Energy Project for Data Center

    October 29, 2025

    Construction Workers Shifting Slightly Younger

    October 29, 2025

    Industry Professionals 10-28-25

    October 29, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
    Don't Miss
    Planning & Development

    Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

    October 29, 20250

    By Roland Murphy for AZBEX The Phoenix City Council is set to consider rezoning 12.4…

    Pinal P&Z Advances Energy Project for Data Center

    October 29, 2025

    Construction Workers Shifting Slightly Younger

    October 29, 2025

    Industry Professionals 10-28-25

    October 29, 2025

    BEX serves architecture, engineering and construction firms as well as all the ancillary product and service categories that market to them. These include manufacturing representatives, public agencies and private real estate organizations, specialty subcontractors and services providers related to our industry.

    Our Picks

    Phoenix Seeking Rezoning for Latest 19th Ave. Area Redevelopment

    October 29, 2025

    Pinal P&Z Advances Energy Project for Data Center

    October 29, 2025

    Construction Workers Shifting Slightly Younger

    October 29, 2025
    Contact Us

    Phone: 480-709-4190
    Address: P.O. Box 12196 Tempe, AZ 85284
    Email: sales@azbex.com

    Type above and press Enter to search. Press Esc to cancel.