By Catherine Reagor | The Arizona Republic
Ranking cities and states based on all kinds of data is popular for real estate researchers and brokerages. Many of the surveys are helpful; others for are simply entertaining. Here’s a rundown on some recent ones:
• Metro Phoenix has the highest number of homes flipped for a profit, 1,438, during the second quarter of this year, according RealtyTrac. Los Angeles was second with 1,371 flips, Miami third with 1,290. Home flippers in Pittsburgh earned the highest profits, an average of 106 percent.
• Phoenix is the 8th most affordable big U.S. metro in which to buy a home, according to mortgage research firm HSH.com. The typical Valley buyer needs to earn $41,250 a year to afford a median-priced home based on current interest rates, the company said. Pittsburgh is the nation’s most affordable metro area, and San Francisco is the least affordable.
If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com
