New residents push up metro Phoenix home prices, rents

By Catherine Reagor | Arizona Republic

Neither COVID-19 nor the big job losses tied to it are slowing rising housing costs in metro Phoenix.

The median home price is poised to hit a new record, and rents climbed faster here than in many other big U.S. cities in 2020.

Home prices and rents kept climbing as the Phoenix area lost more than 51,000 jobs last year.

How? It’s the Valley’s population growth fueling housing price increases.

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