3 of 10
BACKNEXT
Memphis
Median home price: $280,000
Drop since market peak: 22.3%
Forecast gain by 9/2012: 7.5%

Economic recovery heated up in Memphis last year, with unemployment dropping a full point to 9.4%. That has helped to slow foreclosure filings, which dropped 22% last year.

"We have added jobs lately and we hope to add a lot more in 2011," said John Gnuschke, director of the Sparks Bureau of Business and Economic Research at the University of Memphis.

The housing market will also benefit from its current affordability. "You can get a very nice house for $138,000," Gnuschke said.

He also pointed out the falling foreclosure numbers in the metro area: They dropped 22% last year and 31% the year before. That means fewer homes going into inventory and a better balance between supply and demand, which will contribute to the steady home price improvement over the next two years.



NEXT: Rochester, N.Y.
Last updated February 07 2011: 5:51 PM ET
Source: Fiserv; based on cities with a population of 500,000 or more.
10 things that cost less As prices skyrocket, here are 10 things getting cheaper. More
Buy Ashton Kutcher's houseThis L.A. home was the star's bachelor pad. It's selling for $2.6 million. More
10 foreclosure hotspots Las Vegas is No.1, but these cities -- like Savannah -- is where the plague is spreading. More
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.