Forbes Ranks Phoenix as #2 City to Buy a Home!

Whew! If you're living in Phoenix now, we're having a "heat wave," and Linda Ronstadt's rendition of the song by the same name is playing in my head.

Which leads into my next topic...Forbes just conducted an in-depth report of housing markets in in the nation's top 25 most populated metro areas to determine which showed the most long-term promise and Phoenix came in at #2. While the majority of the nation's housing markets are still working toward a bottom, Forbes said Phoenix was the second best metro area boasting fundamentals that make it a great place to buy a home now!

To determine which cities featured the best real estate deals, Forbes looked at three sets of data in the March 2009 RPX Monthly Housing Market Report, distributed by Radar Logic Incorporated, a New York-based derivative. They looked at the number of zip codes with 25% of the area's sales to determine those in which activity is most evenly-distributed; increases and decreases in price per square footage to determine where market value is the highest and transaction rates to find out which cities have the most activity. Then they scored each city by category and combined the scores for the final ranking.

As I've been telling you since March, the inventory is going down in the Phoenix area and we are getting multiple offers the first few days a home is on the market--when it is priced right.

What city came out on top -- none other than our Rocky Mountain neighbor 900 miles to the northeast, Denver!