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24/7 Wall St.: American Cities Where Homes Sell Fastest

10. Phoenix-Mesa, Ariz.

Average no. of days on market: 48
Median home price: $185,000 (73rd highest)
Population: 4,192,887 (20th highest)

The entire metropolitan area of Phoenix-Mesa, which has a population of more than 4 million, had 13,912 homes listed on the market in June — the 20th highest of all the metropolitan areas surveyed. This is a drop of almost 40% since last year at the same time. Speedy home selling may be boosting the housing market in the Phoenix area. The median home price has shot up about 32% since last year, more than double the increase of the next highest market, San Francisco. Nevertheless, the Phoenix-Mesa housing market still has its problems. About 2% of the homes in the area are in foreclosure, the highest rate on this list and the fourth highest of all the metro areas surveyed.

More From 24/7 Wall St.:
Fastest-Growing Cities in America
America's Sickest Housing Markets
Best Cities for Millennials

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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