MEMPHIS, Tenn — In tonight’s Ransom Note: there’s no place like home.
We hear a lot about the struggles from this pandemic, the toll it’s taking on so many workers and businesses and we should.
But there’s another story going on that also needs attention.
Don’t look now, chances are the value of your house is skyrocketing with interest rates low, demand high, and supply of homes low interest.
Look at these numbers from The Daily Memphian.
Houses sold in October of 2020? 6.4 percent more than this month last year with no pandemic.
And look at this. The average sales price is way up by almost 30 percent year-to-year to $241,213.
Just ten years ago, the average sales price was just over 120-thousand dollars ($122,074).
For most of us, our home is our biggest investment.
That said, Memphis Real-Estate Agents will tell you we’ve never really been a boom market, just slow and steady.
But that appears to be changing. If you own a home, especially if you’re selling yours, congratulations.
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