Buying homes in metro Phoenix isn’t the deal for investors it was a few years ago before home prices rebounded 70 percent, reports Catherine Reagor at The Arizona Republic.
The Valley, nevertheless, still ranked No. 28 out of the U.S.’s 75 largest metro areas for buying an investment home, according to a new All Property Management survey.
Grand Rapids, Mich. is the national property management firm’s top pick for investment markets.
Metro Phoenix, which is in the top 40 percent nationally, ranks as the third best investment market in the Southwest, after Dallas and Albuquerque.
According to the report, the Valley also saw job growth over the past year of about 2.11 percent. And the area’s overall housing market is seeing activity, as properties are taking only 65 days to sell on average, All Property reported.
