Story perspectives
Memphis Real Estate: Buyer-Friendly Market Faces Affordability Issues
7/24/2025
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Story summary
- The Memphis real estate market is currently buyer-friendly, featuring increased inventory and average home prices near $260,000.
- Mortgage rates remain stable at 6-6.25%, yet many homeowners from 2020-2022 hesitate to sell.
- New construction struggles with affordability, affecting first-time buyers.
- The retail sector thrives with low vacancy rates, while the office market is recovering post-COVID.
