At the beginning of the pandemic, Arin Lopez, 47, and Derek Swenson, 35, started thinking about buying a home to get their family out of the two-bedroom apartment they’ve long rented in central Phoenix. But every home they liked had multiple offers over asking price within a day or two of going on the market. So they kept renting, even though their two sons, both under 10 years old, had to share a bedroom.

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