Friday, May 11, 2018

Memphis Housing Market Lacks Direction

(Click on the image to enlarge)
In mere 13 months, after having jumped from $110K to $145K, the monthly median takes a nosedive back to the point of origin, thereby pointing to a totally directionless market. 

The normalized trend (bottom chart) is in tandem as well, shooting up from $68/SF to $88/SF and then quickly falling back to $73/SF. If this downward trend continues, the market will be hovering in negative territory in not too distant future. 

Note: This analysis covers City of Memphis, not the entire Shelby County.


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