Phoenix managed to keep a good pace of apartment construction these past recent months, but it didn’t manage to ease demand for renting in Phoenix. In fact, while the occupancy rate dropped slightly, more tenants decided to stay put, locking in some of the desirable apartments.

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Here are the details from the Rental Competitiveness Report in peak moving season:

• This peak season, each vacant apartment in Phoenix attracts 8 competing applicants , the same number as last summer. However, renters now have three extra days to submit their applications, as it takes 43 days for a unit to get filled.

• The occupancy rate dropped by 0.6%, and renters have now 8% of stock to choose from .

• On the other hand,

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