Phoenix out of top 20 as a best place for first-time homebuyers

By Patrick O’Grady | Phoenix Business Journal

Phoenix, a longtime bastion of low home prices, fell just outside the top 20 cities in the U.S. as a good place for first-time homebuyers.

An index created by SmartAsset that ranked cities in terms of mortgage lenders, volatility and average price per square foot among several other factors, found Phoenix ranked No. 21 in the U.S.

Topping the list were Pittsburgh, Oklahoma City and Omaha, Nebraska. Pittsburgh received the top nod due to its high percentage of loans funded and low average cost per square foot.

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