2025 Q4 Greater Phoenix Multifamily Market Report

Market Overview

The U.S. industrial market reached a pivotal turning point in Q4 2025 as the aggressive supply-demand imbalance of recent years began to stabilize. National vacancy rates settled at 7.3%, supported by a significant contraction in the construction pipeline which saw new deliveries drop to their lowest levels since 2017. This shift toward a rebalancing phase suggests a departure from the oversupplied environment of the post-pandemic era, paving the way for a more disciplined and sustainable growth cycle. As speculative development slows, existing inventory is expected to maintain steady occupancy levels through the coming year. Please download the full report to access the comprehensive market data.

About Colliers

Colliers is a leading diversified professional services and investment management company with operations in 66 countries. Their team of over 19,000 enterprising professionals works collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, their experienced leadership team, owning approximately 40% of their equity, has delivered compound annual investment returns of approximately 20% for shareholders. Colliers' industrial research provides critical insights into market dynamics, helping clients maximize the potential of their real estate assets.

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