{"id":14748,"date":"2022-07-01T11:44:07","date_gmt":"2022-07-01T18:44:07","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=14748"},"modified":"2022-07-01T11:46:13","modified_gmt":"2022-07-01T18:46:13","slug":"phoenix-ranks-as-2nd-hottest-housing-markets-in-u-s","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/phoenix-ranks-as-2nd-hottest-housing-markets-in-u-s","title":{"rendered":"Phoenix is the 2nd Hottest Housing Market in U.S., Report"},"content":{"rendered":"\n
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If you\u2019re thinking about selling your home, now may be a great time. Especially in the greater Phoenix area, which ranks No. 2 among the hottest housing markets in the U.S. <\/p>\n\n\n\n

The housing market has boomed recently due to high demand, low inventory, fluctuating rates, and the search for more space and comfort throughout the pandemic. <\/p>\n\n\n\n

House Method<\/a> analyzed data on the 100 largest metropolitan areas and ranked them according to seven factors across three main categories: affordability, inventory and population growth. <\/p>\n\n\n\n

In the hottest areas, homes sit on the market for short amounts of time before selling for top dollar and attracting new residents at a rapid rate.  <\/p>\n\n\n\n

The Phoenix-Mesa-Scottsdale area ranked as the second-hottest market in the U.S. with an overall score of 36.71. It scored a 73 for affordability, 14 for inventory and 13 for population growth.\u00a0Tampa, Fla. snagged the No. 1 spot as the hottest housing area in the country.<\/p>\n\n\n\n

To determine each ranking, House Method considered the following: home price change percentage in 2021 versus 2022; the average price per square foot\u2019 the majority of homes available above and below the national cost average of $428,700; the average active home listing per month; the average day on the market before pending sale; and the population growth change percentage from the 2010 census versus the 2020 census. <\/p>\n\n\n\n

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Other interesting findings from the House Method study include:<\/p>\n\n\n\n