According to information provided by national real estate site, Trulia, Memphis home sales are up only slightly, indicating that our market has not really turned the corner. However the decline seems to be over, and the flattening curve could be good news going into the slower sales months.
I am not an agent who does a lot of market conjecture, but I like to present my clients with the hard data available. This is a great buyers’ market. There is good inventory; prices are obviously lower; intrest rates continue to be remarkably low; and indications are that the Feds will extend and expand the home buyer credit. If you have been thinking about buying a home, let’s talk.
Trulia reports median sales prices in Memphis have been on the upswing since May, 2009. Those prices look pretty low compared to other resources, but look at the shape of the graph. Are we over the pricing decline, or just seeing a blip in the overall scheme of things? We will not know except in retrospect.
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