Phoenix ranked among top cities to invest in housing for 2017
PHOENIX — If you’re looking to buy a home in a growing market, then you’re in luck. Phoenix was recently ranked among the best cities to invest in housing during 2017, according to Forbes.
The Valley of the Sun ranked No. 19 in the list of top 20 cities to invest in housing, placing it among major cities such as Nashville, Sacramento and Boston.
Forbes found that home prices in Phoenix increased seven percent in 2016, while job growth increased by 1.8 percent.
More and more people are looking to come to Phoenix, too. The city’s population grew by 5.7 percent from 2012 to 2015.
Dallas, Jacksonville, Orlando, Seattle and West Palm Beach, Florida, rounded out the top five housing markets to invest in 2017. The only city that ranked below Phoenix on the list was San Antonio.
Local Market Monitor, a North Carolina-based tracking company that Forbes teamed up with to build the list, predicted that home prices in the city will grow by at least 17 percent by 2020.
In December, Realtor.com predicted that Phoenix would be the top housing market of 2017, placing it ahead of markets such as Los Angeles, Boston and Sacramento.
The city was predicted to have more than seven percent sales growth and nearly six percent price growth in the 2017 housing market.
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