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5 Warm-Weather Cities With Blistering Hot Real Estate

Fifth-warmest U.S. market: Phoenix
Mean winter temperature: 57.2 degrees

Phoenix's desert-like climate has long attracted lots of buyers from cold locales in the United States and Canada.

"The warm weather is key to anyone who's looking for a second home here," says Jodi Kevern of Arizona Focus Realty in suburban Phoenix.

She says Phoenix draws lots of vacation- and retirement-property buyers from Minnesota and the Dakotas, as well as from the Canadian provinces of Alberta, British Columbia and Saskatchewan.

"Everyone in Eastern Canada and the Northeast United States tends to travel to Florida for their warmth, so we mostly see people from the Middle and Western parts" of Canada and the United States, Kevern says.

Such out-of-town interest is combining with increased local demand to help Phoenix, which faced a massive collapse during the housing bust, rise like the phoenix of Greek mythology.

Median Phoenix asking prices have risen 23.6% over the past year to hit $209,500 -- the sixth-highest percentage 12-month gain for any major U.S. city, according to Realtor.com.

The inventory of available Phoenix homes has also dropped 15.9%, as has the median number of days that Realtor.com's listings for the area have been on the market.

All three of those metrics are usually signs of a rebounding market.

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