Nice piece from the Arizona Republic on the flat Phoenix rental market.

“The most commonly offered concession is one month free with a 12-month lease.

… the Valley’s apartment-vacancy rate climbed to record high of 12.4 percent for the second quarter of this year.

Here is an accompanying piece on Arizona condo conversions and re-conversions.

Last year, 20 out of the 28 projects that had converted to condos reconverted to rentals in some capacity…

The oversupply caused by condo conversions in 2006 has brought Scottsdale condo prices down to an attractive level in my opinion. If you are looking for a Arizona vacation home, an investment property, or your first home, Scottsdale condos deserve a look.