Memphis Market Showing Improvement

The Memphis real estate market is beginning to show some signs of revitalization, small signs, but good ones for us to be looking at.

Right now housing sales are up for this month about 4.4% yesterday. But the good thing is that inventory is going down as active listings are down. We have struggled for the past few months with almost a 3 year inventory of listings. I have also been looking at the absorption rates in some of the area neighborhoods recently and found that the number of neighborhoods in a declining market is also going down which is good news. Many of them are stable markets at this time.

So while it may be very modest, it appears that we are beginning to see some changes in the real estate market in this area. Something that is very necessary at this time.