CalculateRealEstateROI

Market Cycles

Expansion Phase

Cycle phase of accelerating rent growth, falling vacancy, and rising new construction.

Reviewed by Keiron Brown, Founder & Editor, CalculateRealEstateROI · Educational estimates only — not investment, financial, tax, or legal advice

Plain-English explanation

The 'easy money' phase — most deals work, but late-cycle buyers underwrite the boom forever.

Examples

  • Phoenix 2017–21 expansion: 8%+ annual rent growth and surging multifamily starts.

Common mistakes

  • Underwriting expansion-phase growth into year-5 of a hold.

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