Apartment Market and Sales Insights
New Apartment Construction Pipeline. As of the end of Q3 2025, there were 41,520 units under construction, of which 22,807 units are already in initial stages of being leased. Over the next year, most all will be absorbed. Here’s the good news: there are only 16,124 units Planned. Moreover, there were only 11,492 construction starts YTD (per Yardi Matrix). We keep talking about a pending shortage of apartment housing at a time when demand is likely to increase from all the investments on-going and ear-marked for metro Phoenix. These are the numbers that support the projected strong increase in apartment rents and values.