Prior to the onset of COVID-19, the Phoenix multifamily market stood on solid ground. The market had the highest rent growth in the nation, along with an active development pipeline and high investment activity. Although the Valley of the Sun is not immune to the economic effects of the recession that will be felt throughout the nation, the market is starting from a position of strength.

This economic report analyzes how much federal COVID-19 relief has assisted small multifamily renters and what investors should continue to watch.

Prior to the onset of COVID-19, the Phoenix multifamily market had the highest rent growth in the nation, along with an active development pipeline and high investment activity.

In this short audio brief, economist Sam Chandan analyzes today’s demand for SFRs, summarizing what recent data suggests about investments.

Watch our Arbor Realty Trust and Chandan Economics video. It explains why COVID-19 is anticipated to drive up demand for small multifamily housing.

The U.S. multifamily market finished 2019 on a historic run, then COVID-19 hit. While the full impact wasn’t felt by the end of the first quarter, initial results indicated a slowdown in rent growth, along with a sharp decline in development and investment activity.