With limited supply, and high demand, prices for houses have soared. Housing economists expect price gains to slow in 2021. Nationally, there were average reported gains of 7.3% in prices, but that pace is expected to slow to 4.1% in 2021, according to Corelogic, a leading property data provider.

But Sowell agent Shelly Rainwater countered with, “I’m not sure the pace will slow here locally as demand is not lessening and Memphis remains a popular relocation destination due to our relatively low housing prices.”