Posts from October 25th, 2008

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Memphis Awaiting Housing Upswing from the Memphis Commercial Appeal

October 25th, 2008 by Anonymous

Find the Commercial Appeal online at www.commercialappeal.com

By Cassandra Kimberly

Memphis Commercial Appeal

Saturday, October 25, 2008

With existing home sales on the rise in September nationwide, local real estate professionals are hoping the data is a sign the housing slump has finally hit bottom and the market is on the way up.

"I think what we're seeing going on right now is we may be running along the bottom of the trough," said Dick Leike, co-founder of Crye-Leike, Realtors Inc., the largest residential real estate firm in Memphis. "We may see an increase in sales beginning anytime."

The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.

Click Here to Read More...

Categories: Crye-Leike in the News