In many housing markets around the country, there is growing evidence of a housing recovery. Even some of the hardest hit areas of the country where outside market forces like slow job recovery and low wage recovery have hurt, the areas are showing signs of a strengthening housing market. Prices are going up, permits for new builds are increasing and sales to home owners are increasing while investor activity is taking up a smaller percentage of market activity.
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I know it sounds a bit crazy, but when talking about Memphis real estate and the role that foreclosures have on the market, there are some words that just don't seem to go together. Take for instance using ‘Stable’ and ‘Foreclosure’ in the same line... or sentence for that matter. It sounds a bit oxymoronic, right? I am fairly sure, although not entirely positive, that is a word!