Saturday, December 12, 2009
I've been watching the condition of the Memphis market for the past few days. While prior to now we've been in what I would call a declining market, the market here seems to be stabilizing. The inventory in the area is high, but it is not that high. My listing in Midtown, the other day I did an absorption rate analysis on it and the rate shows it is still a strong buyers market but that the inventory especially in the midtown area seems to be coming down. That is a good sign for the market at this point. So we are beginning to see a slow recovery in the area, especially in the midtown area.