Memphis
Real Estate News

As Hurricane Season Kicks Off in US, 7.4 Million Coastal Homes at Risk of Storm Surge Damage

As Hurricane Season Kicks Off in US, 7.4 Million Coastal Homes at Risk of Storm Surge Damage

Nearly 7.4 million single- and multifamily homes in the U.S. with more than $1.8 trillion in combined reconstruction cost value are at risk of storm surge and possible mandatory evacuation in the midst of a global pandemic. Read More »


Coronavirus Lockdown Severely Felt by California's Housing Market

Coronavirus Lockdown Severely Felt by California's Housing Market

California home sales dropped sharply in April 2020 from both the previous month and year as the housing market began to feel the full impact of the coronavirus outbreak and the state's stay-at-home order. Read More »

Rental Home Price Growth in U.S. Slowed to 5-Year Low From Coronavirus

Rental Home Price Growth in U.S. Slowed to 5-Year Low From Coronavirus

Home rental prices slowed more than they had in at least five years when the coronavirus pandemic hit. But the for-sale market continues to heat up after a slower early April. Read More »

1 in 5 Homes Sold in U.S. During April Were New Construction

1 in 5 Homes Sold in U.S. During April Were New Construction

Property broker Redfin is reporting this week that the number of newly built homes on the market fell just 10.5% year over year in April, the smallest decline in 2020 to date. Read More »


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Global Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »

Last Updated May 29, 2020 9:00 AM ET

Memphis Property News

In a new COVID-19 world we now find ourselves all living in, this Memorial Day weekend has become the unofficial start of 2020's new "homecation" season.

Existing-home sales dropped in April 2020, continuing what is now a two-month skid in sales brought on by the coronavirus pandemic.

According to new data this week from The American Institute of Architects (AIA), demand for design services in April 2020 saw its steepest decline on record.

In a sign of the growing economic toll from the coronavirus pandemic, total housing starts decreased 30.2 percent in April 2020 to a seasonally adjusted annual rate of 891,000 units.

U.S. builder confidence in the market for newly-built single-family homes increased seven points to 37 in May 2020. The rise follows the largest single monthly decline in the history of the index in April 2020.

The total number of loans now in forbearance increased from 7.91% of servicers' portfolio volume in the prior week to 8.16% as of May 10, 2020. 4.1 million homeowners are now in forbearance plans.

Mortgage applications for new U.S. home purchases decreased 12 percent compared from a year ago.

45 percent of the zones saw median home prices rise by more than the national increase of 11.3 percent from the first quarter of 2019 to the first quarter of 2020.

NAIOP reports this week that it's NAIOP CRE Sentiment Index has dropped below 50 for the first time since its inception.

Driven by Coronavirus Remote Working Trends. A new Zillow survey suggests housing preferences could be upended in a post-pandemic America, leading to major questions about the future of dense metro cores.

U.S. loans now in forbearance increased from 7.54% of servicers' portfolio volume in the prior week to 7.91% as of May 3, 2020, almost 4 million homeowners are now in forbearance plans.

New listings and home sales are seeing early signs of recovery in the U.S. housing market, even as some cities struggle to flatten the coronavirus curve.

The combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

Buyer demand and healthy housing-market dynamics will prevent U.S. home prices from dropping more than 2 to 3 percent in the wake of the coronavirus.

The total number of U.S. mortgage loans now in forbearance increased from 6.99% of servicers' portfolio volume in the prior week to 7.54% as of April 26, 2020.

Property broker Redfin is reporting between mid-March and mid-April 2020, the new supply of homes for sale over $1 million fell 29 points from the year prior.

U.S. builder confidence in the single-family 55+ housing market dropped 30 points to 38 in the first quarter of 2020.

The Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending April 24, 2020 is reporting a dip in U.S. mortgage applications.


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