Fri. Feb 14th, 2025

Memphis home prices forecast to rise more than 10% in 2025

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MEMPHIS, Tenn. — Home sales prices are expected to rise 10.5% in the Memphis area in 2025, one of the highest percentage increases in the country, according to a Realtor.com forecast.

That would put the Bluff City in the top 10 for price increases, just behind Sunbelt cities like Phoenix, Las Vegas and Orlando. Home prices across the country are forecast to rise 3.7% on average, Realtor.com says.

Data from Memphis Area Association of Realtors shows the median sales price in October, the most recent month available, was $204,900, a 2.4% monthly decrease.

October home sales were down 20% from a year earlier, MAAR said.

Back in August, data from home sales site Redfin showed the median sale price of a home in Memphis was $190,000.

That price was the lowest median price of any market in the country — but Memphis was also named the most overvalued market by the same company that month.

Realtor.com forecasts the average mortgage rate nationwide at 6.3% next year, up more than 2 points from the average 2013-19.

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