Phoenix tops the nation in the number of apartment units expected to be delivered in 2023, according to a report from Yardi Matrix.
By the end of 2023, Yardi expects to see 20,541 new units built in metro Phoenix, out of the total 487,512 new unit deliveries expected nationwide. Austin, Texas, comes in at No. 2 with 20,293 new units this year, with Denver third at 16,664 units.
That's a lot for metro Phoenix, which has averaged closer to about 8,000 units per year, said Peter O'Neil, research director for Northmarq.
O'Neil's Phoenix metro multifamily forecast for 2023 is closer to about 15,000 units to be completed, he said, still much higher than the average output.
