Memphis, TN-MS-AR
House prices for this metro area, real and nominal, since FHFA's series begins.
FHFA purchase-only · 1991 Q1 to 2026 Q2 · real terms in 2024 dollars · built 2026-10-31
All metro areas · this area is memphis on the rankings
The index
Real and nominal, first quarter of the series = 100; the shaded band is 2007 to 2012.
How this is measured
Real terms deflate each quarter by that year's US CPI, stated in 2024 dollars; the CPI runs to 2024, so later quarters sit at 2024 prices until the next print. Purchase-only means repeat sales of the same homes with refinance appraisals excluded, the cleaner of FHFA's two indices, published for the 100 largest metro areas.
One year
One year real −0.7%
nominal -0.7%
Five years
Five years real +4.2%
nominal +20.6%
Ten years
Ten years real +39.4%
nominal +82.1%
Twenty-five years
Twenty-five years real +24.9%
nominal +121.2%
Since 2000
Since 2000 real +25.4%
nominal +128.4%
2007 to 2012
crash, real −26.4%
2007Q2 to 2012Q1
Year by year
Fourth quarter of each year, nominal and real, newest first.
| Quarter | Nominal | Real (2024 $) | Real, year on year |
|---|---|---|---|
| 2026 Q2 | 319.1 | 319.1 | real year on year +0.8% |
| 2025 Q4 | 316.7 | 316.7 | real year on year +1.1% |
| 2024 Q4 | 313.4 | 313.4 | real year on year −2.6% |
| 2023 Q4 | 312.3 | 321.6 | real year on year −3.4% |
| 2022 Q4 | 310.4 | 332.7 | real year on year +1.9% |
| 2021 Q4 | 282.0 | 326.4 | real year on year +12.8% |
| 2020 Q4 | 238.8 | 289.4 | real year on year +8.4% |
| 2019 Q4 | 217.7 | 267.1 | real year on year +6.8% |
| 2018 Q4 | 200.2 | 250.1 | real year on year +3.1% |
| 2017 Q4 | 189.5 | 242.6 | real year on year +4.3% |
| 2016 Q4 | 178.0 | 232.6 | real year on year +4.2% |
| 2015 Q4 | 168.7 | 223.2 | real year on year +3.7% |
| 2014 Q4 | 162.4 | 215.2 | real year on year +1.6% |
| 2013 Q4 | 157.3 | 211.9 | real year on year +3.9% |
| 2012 Q4 | 149.3 | 204.0 | real year on year −0.1% |
| 2011 Q4 | 146.4 | 204.2 | real year on year −2.1% |
| 2010 Q4 | 144.9 | 208.5 | real year on year −6.2% |
| 2009 Q4 | 151.9 | 222.2 | real year on year −5.1% |
| 2008 Q4 | 160.7 | 234.1 | real year on year −10.2% |
| 2007 Q4 | 172.2 | 260.6 | real year on year −2.8% |
| 2006 Q4 | 172.2 | 268.0 | real year on year +0.5% |
| 2005 Q4 | 166.1 | 266.8 | real year on year +1.3% |
| 2004 Q4 | 158.5 | 263.3 | real year on year −0.2% |
| 2003 Q4 | 154.7 | 263.7 | real year on year +1.2% |
| 2002 Q4 | 149.5 | 260.6 | real year on year +1.2% |
| 2001 Q4 | 145.4 | 257.6 | real year on year −0.7% |
| 2000 Q4 | 142.4 | 259.3 | real year on year −2.3% |
| 1999 Q4 | 140.9 | 265.3 | real year on year +2.4% |
| 1998 Q4 | 134.7 | 259.2 | real year on year +5.1% |
| 1997 Q4 | 126.2 | 246.7 | real year on year +1.5% |
| 1996 Q4 | 121.5 | 243.1 | real year on year −0.0% |
| 1995 Q4 | 118.1 | 243.1 | real year on year +1.7% |
| 1994 Q4 | 112.9 | 238.9 | real year on year +3.2% |
| 1993 Q4 | 106.6 | 231.6 | real year on year +0.9% |
| 1992 Q4 | 102.7 | 229.5 | real year on year −2.1% |
| 1991 Q4 | 101.8 | 234.4 | — |
2026 Q2319 · real 319real year on year +0.8%
2025 Q4317 · real 317real year on year +1.1%
2024 Q4313 · real 313real year on year −2.6%
2023 Q4312 · real 322real year on year −3.4%
2022 Q4310 · real 333real year on year +1.9%
2021 Q4282 · real 326real year on year +12.8%
2020 Q4239 · real 289real year on year +8.4%
2019 Q4218 · real 267real year on year +6.8%
2018 Q4200 · real 250real year on year +3.1%
2017 Q4190 · real 243real year on year +4.3%
2016 Q4178 · real 233real year on year +4.2%
2015 Q4169 · real 223real year on year +3.7%
Source
FHFA House Price Index, purchase-only, quarterly, not seasonally adjusted, CBSA 32820. Real terms by the World Bank's US consumer price index, annual.