Media Inquiries Mary Beth Campbell Communications Manager 602.222.5083

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The booming residential housing market of 2004 and 2005 led to an increasing amount of speculators in the Valley. The fallout from the speculation of the past few years, coupled with a slowing resale market, has resulted in an increasing number of unsold homes that are now being placed on the rental market. An Arizona Republic headline on February 12, 2008, read, "Bargains Abound for Rental Homes." According to this article, a growing number of single-family homes and condos are now being rented, which is pressuring apartment rents downward. Outlying areas along the I-10, such as...