The Memphis Real Estate Market in 2020
As the second largest metro area in the Mid-South, Memphis has a booming real estate market, one of the many reasons investors, renters, and homeowners alike choose to invest in Memphis real estate. Whether you’re buying or selling a home as an owner or as an investor, it is important to be aware of the expectations of the new year’s real estate market. In 2020, both investors and homeowners can expect great opportunities in Memphis. Here’s why.
2020 Real Estate Trends in Memphis
If you are interested in buying, selling, or investing in a home in Memphis, 2020 is the year to do so. As many investors already know, investing in real estate has a variety of benefits. In a city like Memphis, investors have an abundance of opportunities to increase cash flow and bring in passive income.
Memphis is a seller’s market.
In the year 2020, the real estate industry is still very much a seller’s market for the city of Memphis and surrounding areas.
What is a seller’s market?
A seller’s market occurs when the number of potential buyers outnumbers the number of individuals trying to sell their home. This can lead to the potential for higher offers in a short period of time from a number of potential buyers. As a result, sellers in a seller’s market have more leverage and are able to expect at or above asking price, cooperation with buyers on closing dates and inspection windows, and more. Because homes are selling fast in the Memphis real estate market, homeowners are able to ask for a higher price on their home.
Why should I invest in Memphis real estate in 2020?
Have you been waiting for the perfect time to buy a home or to invest in Memphis real estate? Whether you are looking to move to the Memphis area, purchase an investment property, or sell your home, 2020 is a great year to do so.
Rental properties are affordable and profitable.
Whether you’re new to the real estate industry or you're an experienced investor, the affordability of rental properties serves should be considered if you’re looking for passive income and investment opportunities. Fortunately, Memphis offers investors a wide selection of affordable homes to choose from in a variety of neighborhoods. With a large number of renters in Memphis, affordable homes serve a variety of people groups, such as college students, young professionals, families, and more, while also bringing in passive income for investors.
Investment properties offer low interest rates.
One factor that impacts the profitability of investment properties in Memphis is the low interest rates. Because of low interest rates and affordable home values in the area, investors have the opportunity to get a higher return on their investment.
Average rent rates in Memphis continue to rise.
When investors are searching for the next best place to put their money in the real estate industry, it’s always important to evaluate the rent-to-price ratio. A high rent-to-price ratio helps investors bring in more bank for their buck. According to SmartAsset, Memphis has been ranked among the top cities for individuals looking to rent a home. With a large job market, college campuses, and family friendly living, rates are expected to continue rising in 2020, while the number of renters is at an all-time high.
READ MORE: 3 Reasons Memphis Has a Thriving Real Estate Market →
Why is Memphis a great place to live in 2020?
For those looking to move to the Memphis area in 2020, there are many factors that make Memphis a great place to call home. From job opportunities to rich history, the city of Memphis offers it all to new and experienced residences. It’s incredibly important for investors to know why the city they own real estate in is beneficial to potential homeowners and renters. Here are a few reasons why many choose to move to the city of Memphis:
Memphis has a growing job market.
If you are looking for job opportunities in a large metro city with affordable housing, Memphis should be on your list of areas to consider. Professionals young and old continue flocking to Memphis for its impact on the worldwide business realm. Memphis is home to multiple Fortune 500 organizations, including FedEx, AutoZone, and International Paper. Alongside these large companies, Memphis also offers its residences a multitude of locally-owned and operated businesses with even more job opportunities for professionals in any industry.
Memphis offers a great quality of life.
For those looking to move to a city full of job opportunities, social events, family-friendly areas, and learning experiences, Memphis offers it all. Not only can professionals expect a growing job market in 2020, but all residences will continue enjoying incredible aspects of Memphis living like:
- Low cost of living
- International festivals
- Historic attractions
- Weekend entertainment
- Community-oriented neighborhoods
- Family-friendly attractions
- Parks and recreational areas
Memphis is rich in culture and diversity.
One aspect of Memphis both investors and homeowners love is the diversity from neighborhood to neighborhood. Memphis is the second largest metro area in the Mid-South, making it home to a variety of diverse populations. There’s a place for everyone in Memphis. Whether you’re looking for the big-city feeling or small suburban living, Memphis has a neighborhood for you.
2020 Investing at Memphis CashFlow
Do not wait any longer to invest in the Memphis real estate market. In 2020, let the team at Memphis CashFlow help you get started on your investing journey today. Experienced and brand new investors are welcome here, and our team can’t wait to be a part of your investing experience.
Contact us today for any questions you may have regarding potential rental properties, beginning your investment journey, and more.