Phoenix Apartment Sector Starting to Revive - Real Estate Alert ...

Phoenix was virtually untouchable for apartment investors for much of 2008 and 2009. Prices plunged as high foreclosure rates and the failures of dozens of condominium projects led to an oversupply of rental units. ... In 2006, $2.9 billion of large apartment properties traded hands in the metropolitan area. Volume plummeted to $367 million in 2008 and $192 million in 2009, according to Real Estate Alert's Deal Database, which tracks transactions of at least $25 million. ...

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