Apartment Vacancies highest they have been in 30 years

According to the Phoenix Biz Journal, apartment vacancies are the highest they have been in 30 years. As a result, there is much less building occurring which results in less construction jobs. Although, according to the Associated General Contractors, construction jobs are still being lost on a monthly basis, it seems the losses are slowing when compared to last year. This may be good news for current apartment homes in Arizona because less building means less competition. As for now, I suspect the apartment management firms will continue to offer great specials and lower rents until the occupancy levels increase. For a list of current rental rates seperated by area in the Greater Phoenix Metropolitan Area visit http://www.aptfind.com/ranges.html.