RE-POSTED – Originally Posted October 15, 2010
The Memphis Area Association of REALTORS® has released the 0fficial home sales results for August 2010. The time lag is to allow for recording of deeds, to enhance accuracy of sales statistics. The number of sales units decreased from 2009 by 6.3%, while median price dropped by 23.8% Y-O-Y. Year to date figures show a slight increase in median price, and just 2.4% decrease in number of units sold.
The foreclosure fiasco will have an impact on the market for a while. The depth of banks’ suspending foreclosures is still not defined, but it is definitely the news to watch for the next few months.
Click here for the full MAAR Sales report.
Realtor at InCity Realty
Joe Spake is a Real Estate Broker and Consultant, specializing in Midtown, Downtown, and East Memphis residential properties. His interests include architecture, community activism, music, photography and cooking. Get more great real estate information on Joe's Facebook Page. Call 901-870-3440 or Email Joe@spake.com
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