I just came across MSN’s Money Central article on home value appreciation and thought, once again, about the stability of the Memphis market, which has been marked by steady slow growth. Lets face it, we are not San Francisco, or NYC, or even Flint, MI. Even though its pretty hard to read the Commercial Appeal (I won’t even go into the local news stories), Memphis is a stable, comfortable city. According to the article, for the Quarter ending 9/2007, there was a .09% decrease in home values (a one-day decrease of that amount in the Stock Market would scarcely draw a yawn from an investor). The one year increase – 3.88% and for 5 years- 19.14%. Combined with tax deductions, and the extra benefit of having a roof over your head that you own, a home still looks like a good deal to me.
Check http://hopoffthe fence.com for more info from the Memphis Area Assoc. of REALTORS.