The Phoenix metro area performed extremely well for new construction during the past decade, outperforming much bigger urban hotspots, according to recent StorageCafe research. The article analyzed the real estate development in the country’s top 50 biggest metros over the past 10 years in both residential and commercial sectors.
Although the decade started slowly for new construction, following the setbacks of the previous recession, its second half saw a major surge in real estate development – a trend that also occurred in Phoenix-Mesa-Chandler metro area.
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The Phoenix metro area trumps LA and Chicago for new construction
Phoenix is one of the biggest success stories of the decade in terms of real estate development. Although it has a decidedly smaller population than most of the top 10 metros, Phoenix manages to rank fourth for new construction, following the Dallas, Houston,…