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Study: Lack of educational opportunities costing Phoenix in the real estate market

This June 4, 2015, file photo, shows a sign in front of a home for sale in Roswell, Ga. (AP Photo/John Bazemore, File)

PHOENIX — Since the end of the recession, Phoenix’s real estate market has been steadily increasing, even though it has not been as fast as some would hope for.

Unluckily for aspiring homeowners in the Phoenix-area, the weakness of the housing market isn’t due to the lack of decent housing opportunities but is attributed to the lack of educational opportunity, according to the Phoenix Business Journal.

Overall, Phoenix ranked high — No. 36 out of 67 housing markets — for the best places to own a home in a list compiled by the home services website Porch and real estate site Redfin.

The Valley ranked No. 5 in real estate confidence, but fell to No. 61 for educational opportunity.

This finding comes less than two weeks after Arizona Gov. Doug Ducey signed a multi-billion dollar education funding plan which will distribute $3.5 billion into K-12 education over the next decade.

Phoenix wasn’t the only Arizona city represented on the list; Tucson ranked No. 25 on the list of best places to own a home.