Housing Market Prompts Arizona to Auction Trust Land

The state of Arizona is auctioning broad areas of trust land for future housing developments in response to a booming housing market in the Tucson area. The first residentially zoned trust land in Tucson sold at auction last month for more than $10 million, State Land Commissioner Lisa Atkins said. It was the first residentially zoned trust land in the area sold at auction since 2006, Atkins said. “I’m particularly pleased with the results of this auction in southern Arizona,” Atkins said. “It’s solid evidence of Tucson’s strong market for new housing.”

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Source: U.S. News