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Apartment Market and Sales Insight – as of 5.12.2026
Notice of Trustee Sale – 6131 N 16th St., Phoenix, Sunrise in Biltmore (AKA Sunrise Multifamily), 125 condo units, built in 1975, debt of $29,850,000. Previous sale: March 2022 for $37,500,000.
YTD Apt. Sales (CoStar)
10 to 100 units – 28
100+ units – 12
40 total property sales
New Construction Pipeline(Yardi Matrix)
33,372 units Under Construction
15,772 units Planned
Apt. Completions – 6,956 units
Apt. Starts – 3,934 units
Observation: Apt sales remain minimal – interest rates still relatively high and new construction supply impacting occupancy and rents. New apt starts much less than completions – this ratio will continue – eventually creating a shortage in supply. As we continue to note – the lack of apt supply combined with the projected strong increase in housing demand from TSMC and related industries, will dramatically increase rents and apt values.
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