Memphis among lowest risk for home price declines
Tennessee Markets Are Low Risk: In the most recent U.S. Market Risk Index report, by PMI Mortgage insurance company, the only two Tennessee markets included in their study -- the Nashville and Memphis SMSAs -- were among the LOWEST risk real estate markets (for home price declines) in the country.
Of the 50 largest Standard Metropolitan Statistical Areas (SMSAa) studied, nineteen (19) markets face greater than a 50 percent chance that home prices will decline within the next two years. These 19 markets include: 8 in California, 3 in Massachusetts, 4 in New York/New Jersey, 2 in Florida, 1 in the DC area, and 1 in Nevada.
This is good news for the Memphis Tennessee real estate market, and Tennessee as a whole. Obviously, no one has a crystal ball, however; they have been keeping statistical and analytical data for decades and are in a far better position to broadcast predictions than most individuals. The bottom line is, Memphis and Tennessee as a whole appears to be a a steady climb upward in real estate strength.