The Buyers are Restless!
Posted Apr 19, 2007 @ 5:41 pm, Viewed by 424 Visitors, Read 424 Times.There has been negative talk about the real estate industry from the subprime market to the abundance of new home inventories, by myself, local and national media alike.
However; the past four weeks or so we have seen a very large increase in the amount of phone calls, search queries, and general buyers activity. Katharine and I have written 7 contracts in the last few weeks and have more buyers and sellers in the pipeline that appear to be working toward more pending contracts.
The significance now, versus a few months ago, is the increase in the Memphis home buyers versus the sellers. These are good signs for the Memphis real estate market. The inventory is still a little high compared to the buyers activity, but no where near the crisis mode for sure. Interest rates are still low, and there are plenty of builder incentives out there to help get folks in a home with now money down.
If you are in the market for a home whether new or existing, now is a very good time to be shopping.
- It's spring
- It's close to school letting out
- Interest rates are low
- There is plenty of homes to choose from and the economy appears to be picking up (the DOW just hit new records).
With all the negative press and writings on the status of the Memphis market, I felt the need to report something on the bright side. The home buyers are searching and buying.
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Thanks Houston! I got tired of writing about the negatives, had to jump on the brighter news.
Very interesting article.
Hopefully Nashville will keep attracting new buyers to the area and Tennessee as a whole 
Julius30
That's one thing good about real estate... when pessimists start worrying about the market slowing down optimists start buying.
James Boyer
Yes, this is a great post for your local market. I wish that were the case here. Well I wish my call volume were going up. Anyway hopefully since one of my sites has made google #6 the call volume will start going up soon.
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Ed Pierce: Full time Realtor and Default Services Manager for six affiliate offices in the Greater Memphis area. Real estate is more than a business, it is a hobby and passion for me. Read More
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Ed, I think this is a great post about your local market, and am glad to see that activity is picking up in Memphis. I appreciate your analysis on why this is a great time to buy a home, and feel that the first three points can be applied to all markets.