America's Strongest Housing Market in 2014

Biggest home price increase projected in 2014: Memphis metro

Forecast 4-year price increase: 19.5 percent
Current median price: $91,000
Prices to reach trough in: 2008 Q4
Median family income: $54,400
Population: 1,304,930

In a recent market report by Clear Capital, Memphis was named the highest-performing major market, with quarterly price gain of 20.6 percent in this year's second quarter. According to Fiserv data, prices hit bottom in late 2008 and increased 5.4 percent year-on-year in the first quarter. Memphis is the largest city in Tennessee and home to such major employers as First Tennessee National, Pinnacle Airlines, Thomas & Betts, Mueller Industries, GE Capital Aviation Services, and Baptist Memorial Hospital.

Index used to calculate historical home price changes: Case-Shiller

"Bloomberg Businessweek"