Gary Lee the longtime General Manager for the Memphis operation of Cord Moving and Storage reports this morning that Memphis, TN is one of the U.S. cities expected to see the biggest increase in home prices this year, according to CoreLogic Case-Shiller’s latest home price forecast.
In the last year, real estate investors have been buying foreclosed and other cheap properties, which has lifted home values. According to CoreLogic, Memphis recorded a year-over-year increase of more than 8 percent through September and it doesn’t believe that trend will stop. That increase will make it one of the top markets for appreciation in the U.S.
CoreLogic expects the value of Memphis homes to increase another 7.3 percent by September of this year. “This steady improvement is great for the relocation industry since our business is moving families and their lives which is tied directly to the housing market,” said Gary Lee.
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