Nationwide, home prices are seeing a boost throughout markets as we compare the late 2011 to late 2012 figures. One of the exceptions to this trend is the Memphis metro, which is one of 16 regions out of the top 100 metros to see home prices shift in the wrong direction. On average, sales of residential units in the US rose about 8.3 percent in December 2012, marking the biggest year over year increase in over 6 years. Experts, including the Memphis movers, attribute this to the low supply of homes on the market coupled with increasing demand for buyers.

The drop in Memphis pricing was slight, yet still noteworthy. with year over year prices dropping 0.2 percent. This figure includes sales of all types, including foreclosed properties, short sales, and real estate owned (REO) sales. The trend predicted for real estate this year will likely put a boost back on the market, following the fact that sales of existing homes reached their highest volume in five years throughout 2012. Contractors and investors have also jumped on this trend with home and apartment projects resuming development at the highest level four years.