Phoenix is seeing a boom in housing construction, but this is taking the form of condos, lofts, and townhomes. In fact, the ratio of shared housing developments to single family homes is stunning, with the shared dwellings surpassing SFHs (single family homes) easily.
The Phoenix metropolitan area is growing at a staggering rate; while the city used to be known for having the highest amount of vacant space back in 1997, it’s now seeing that land filled with more and more complexes, sparking bidding wars and fast speculation. Even older buildings that are somewhat decrepit are being bought out and either remodelled or replaced.
Read more about the condo building frenzy in Phoenix.