This week on WKNO-TV's Behind the Headlines, host Eric Barnes interviews guests about the Memphis real estate market, which is seeing record highs. Wendy Greenlaw with Chandler Reports calls the current market "unprecedented" in terms of demand and housing prices.
"We are seeing figures that we have never seen in Shelby County," she says, citing increases in value across the board, from high-end homes to properties bought by investors for the rental market.
"Consumer confidence is really high," says guest Steve Brown, president of residental sales with Crye-Leike. "Unemployment is low. There's a lot of pent up demand. A lot of people have put off buying and they feel better."
Home builder David Goodwin says that there is a "sense of urgency" to buy before interest rates increase.