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Vacancy rates beginning to flatline despite continued economic activity/1096/phoenix-8-13-18-vacancy-rates-beginning-to-flatline<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-modern-office-trees-sky.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1096/phoenix-8-13-18-vacancy-rates-beginning-to-flatlineVacancy rates beginning to flatline despite continued economic activity In the midst of one of the longest economic expansions, overall vacancy rates continue to fluctuate.
Phoenix metro sustains healthy population growth/1083/phoenix-8-6-18-healthy-population-growth<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-walking-busy-commute.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1083/phoenix-8-6-18-healthy-population-growthPhoenix metro sustains healthy population growthThe Phoenix Metropolitan area reached a total of 4.8 million residents and counting at the end of Q2 2018 and is currently the 11th largest metro throughout the country.
Twenty straight quarters of positive office absorption /1066/phoenix-7-30-18-twenty-quarters-of-growth<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-office-co-working.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1066/phoenix-7-30-18-twenty-quarters-of-growthTwenty straight quarters of positive office absorption Metro Phoenix has seen a trend like no other before, the end of second quarter 2018 it marked its 20th straight quarter of positive absorption recording at 327,392 square feet and reaching just over a million square feet of YTD absorption.
Defense contracts continue to find their way to Arizona/1048/phoenix-7-23-18-defense-contracts<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-hands-banking-charts.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1048/phoenix-7-23-18-defense-contractsDefense contracts continue to find their way to ArizonaDefense spending has been set at approximately $700 billion for the year of 2018, with a array of awarded contracts finding their way into Arizona.
Southwest submarket leads Phoenix’s industrial activity/1020/phoenix-7-9-18-southwest-submarket-leads-industrial<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/construction-men-wearing-reflective-orange.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1020/phoenix-7-9-18-southwest-submarket-leads-industrialSouthwest submarket leads Phoenix’s industrial activityThe Southwest submarket continues to be the life of industrial activity at the end of Q2, accounting for 35.5 percent of Phoenix’s absorption (39.8 percent of YTD absorption).
Southwest multifamily housing affordability /1008/phoenix-6-25-18-multifamily-housing-affordability<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/residential-multifamily-sunset.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/1008/phoenix-6-25-18-multifamily-housing-affordabilitySouthwest multifamily housing affordability The southwest region’s hottest destinations continue to command a broad spectrum of both rental rates and median incomes.