Yearly Memphis Home Sales Top $2 Billion Through July

[Robert Bell]

Sales are up 6.3% YOY through July.  Median sales price is down 4.5% to $210K.  It will be interesting to see if volume increases dramatically with interest rate cuts.  

[Robert Bell]

Alex, I could see lower end and rental properties stay flat or even go lower in the short term until rents find some balance. I am hearing that some areas like Frayser (38127) are not getting the rent they used to.  Lower rates could losen up inventory and that might moderate things as well.  Overall I am bullish for the long run.