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First Quarter 2009 New Housing Analysis

May 14th, 2009

In the first Quarter of 2009, new home sales continued to decline with only 232 for the quarter, compared to 370 in the first Quarter of 2008.

New Housing Summary for Shelby County:

  • 84 New Home Permits Issued
  • New Home Sales Prices Remained Stable at $264,004
  • Inventory Levels Down 20% from 1Q08 with 2,985 New Homes in Inventory as of 3/31/2009
  • Charles Morgan Listed as Top Builder with 14 New Home Starts and 10 New Home Sales

The fact that new housing inventory levels are dropping and average new home sales prices have stabilized are positive indicators for Shelby County’s new housing market.

Check out the latest article on April Home Sales Figures from The Daily News http://www.memphisdailynews.com/editorial/Article.aspx?id=42383

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