2020: Great for Phoenix homeowners, bad for renters

By Catherine Reagor | Arizona Republic

2020 will go down as a great year for homeowners and a bad one for renters.

Despite the COVID-19 pandemic, metro Phoenix home prices increased faster than in any year since the housing boom, boosting many homeowners’ equity to the highest level since the crash.

A lot of homeowners struggling during the pandemic received relatively easy forbearance agreements with their lenders that helped them hold on to their homes.

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