Phoenix is the No. 7 market for real estate investment in U.S.

Realtor.com just named Phoenix the No. 7 real estate investment town in the U.S.

Investor activity and home flipping are at the highest level since The Great Recession, but economists see the market beginning to cool off. However, the Phoenix area is still a safer investment than most. What makes it so attractive? A combination of employment rate, population growth and affordability combined with home listing and sales data.

Specifically, about 19.5% of all sales in the Phoenix area are flips, up 4.5% from the same period a year earlier—the largest percentage of any of the metros in the top 10.

Median home sale price: $275,800

Percentage of investment property sales: 15.1%

Here is full the full list of top 10 best markets for investors:

1. St. Louis, Mo.

2. Birmingham-Hoover, Ala.

3. Miami-Fort Lauderdale-West Palm Beach, Fla.

4. Tampa-St. Petersburg-Clearwater, Fla.

5. Memphis, Tenn. 

6. Las Vegas-Henderson-Paradise, Nev.

7. Phoenix-Mesa-Scottsdale, Ariz.

8. Orlando-Kissemmee-Sanford, Fla.

9. Columbus, Ohio

10. Philadelphia-Camden-Wilmington, Pa.