Rising prices, shortages deepen AZ’s housing squeeze

By Caherine Reagor | Arizona Republic

Metro Phoenix home prices hit another record in February and likely shattered that one in March.

Rents are climbing to record levels, too.

The Phoenix area’s rapidly rising housing costs just landed it on a national list of the least affordable places in the U.S. to live.

Other new research shows Arizona now ranks behind only California and Nevada for the biggest shortage of available and affordable housing for extremely low-income residents.

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