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February 2021 Market Update, Greater Nashville Area

Home Sales Increase Again in February NASHVILLE, Tenn. (Mar. 9, 2021) – According to Greater Nashville Realtors, home sales closed out at 2,919 closings reported for the month of February. This figure is up 4 percent from the 2,798 closings this time last year. “We’ve seen a jump on the spring market by buyers who are taking advantage of lower interest rates and avoiding the stereotypical busy warm weather rush to buy,” said Brian Copeland, Greater Nashville Realtors president. “With low vacancy rates in rentals, [...]

By |2021-03-16T08:49:33-05:00March 16th, 2021|Market Trends, Updates|

January 2021 Market Update, Greater Nashville Area

Home Sales Remain Strong in New Year NASHVILLE, Tenn. (Feb. 8, 2021) – According to Greater Nashville Realtors, home sales closed out at 2,745 closings reported for the month of January. This figure is up 4 percent from the 2,632 closings reported for the same period last year. “January’s numbers show the power of the Greater Nashville market. Many of these homes went under contract during the holiday season which is stereotyped as a subprime time to sell. As Realtors continue to remind their [...]

By |2021-02-20T17:00:09-06:00February 11th, 2021|Market Trends, Updates|

January 2021 Market Update, Greater Nashville Area

NASHVILLE, Tenn. (Jan. 7, 2021) – Final numbers for 2020 indicate there were 44,850 homes sold in the region, compared to the 42,356 closings in 2019, the total sales for 2020 were up 6 percent. (information provided by Greater Nashville REALTORS Association) Home sales hit 4,252 closings for December, according to data provided by Greater Nashville REALTORS®. This figure is up 22 percent from the 3,482 closings reported for the same period last year. Fourth quarter closings were 12,310 for the Middle Tennessee area. That total is [...]

By |2021-01-14T10:05:27-06:00January 14th, 2021|Market Trends, Videos|

VIDEO: Moving to Nashville 2021 | What You Need To Know

https://youtu.be/Y_eBPeguMXk   VIDEO DIALOGUE I want to offer a quick glimpse into the real estate market in Tennessee in 2021, specifically in Greater Nashville, for folks that may be looking to move here and would like to know more about life here and what types of things you should look for in a new home. My name is Joshua Smith with Home Agent Group of Benchmark Realty in Tennessee and today we’re going to cover a few different topics [...]

By |2021-01-07T15:20:20-06:00January 4th, 2021|Market Trends, Updates, Videos|

December 2020 Market Update, Greater Nashville Area

Homes Sales in November Surpass 2019 NASHVILLE, Tenn. (December 8, 2020) – Home sales hit 3,694 closings for November, according to data provided by Greater Nashville REALTORS®. This figure is up 14 percent from the 3,232 closings reported for the same period last year. “November home sales are something to be thankful for,” said Kristy Hairston, Greater Nashville Realtors president. “In a typical year, we would be thrilled to see a 14 percent increase, but with all we’ve experienced this year, the consistent trajectory of [...]

By |2020-12-10T12:18:28-06:00December 10th, 2020|Market Trends, Updates|

Market Update Week of August 10, 2020: Home Affordability Climbs

Black Knight reports that despite home prices rising 97 months in row, affordability is the highest since 2016. For the same monthly payment, buyers can now afford almost $32,000 more home than they could a year ago. The report notes that thanks to low mortgage rates, buying power is up 10% from a year ago. In that time, the average home price increased more than $12,000, yet the average monthly payment went down 6%! CoreLogic’s CEO says, “we expect these price increases to moderate [...]

By |2020-08-10T11:24:01-05:00August 10th, 2020|Market Trends, Updates|

Market Update Week of July 20, 2020: Home Sales Up

The V-shaped housing recovery continues. New Home Sales soared in June to a level higher than the one they reached before the shutdown--up 13.8% for the month, posting their highest annual sales rate since 2007! Existing Home Sales spiked 20.7% in June, their biggest monthly gain ever. Sales are still down 11.3% from a year ago, but demand is strong--62% of homes sold were on the market less than a month. Attom Data reports the typical home-sale profit hit $75,971 in the second quarter this [...]

By |2020-07-27T09:02:49-05:00July 27th, 2020|Market Trends, Updates|

Market Update Week of July 13, 2020

Fannie Mae’s June Home Purchase Sentiment Index (HPSI) revealed 61% of respondents think now is a good time to buy a home and 41% feel it’s a good time to sell--big rebounds from the survey’s record lows two months ago. Also rebounding: realtor.com’s latest Housing Market Recovery Index posted the largest nationwide weekly gain since its inception, ending up just a smidge below its pre-COVID baseline. Plus, Freddie Mac’s Chief Economist likes what he sees in the housing market across the country: “The [...]

By |2020-07-13T15:08:12-05:00July 13th, 2020|Market Trends, Updates|

Market Update Week of July 6, 2020: Pending Home Sales are Up

The National Association of Realtors Pending Home Sales index of contracts signed on existing homes surged 44.3% in May, its biggest gain since 2001. All regions were up, though the overall index is still down a smidge annually. The NAR chief economist: “The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing home sales are now projected to be down by less that 10%." Plus: “All figures light up in 2021 with positive GDP, employment, [...]

By |2020-07-06T09:28:02-05:00July 6th, 2020|Market Trends, Updates|

Market Update Week of June 29, 2020: Home Sales Up, Down

After their upside surprise in April, New Home Sales blasted ahead 16.6% in May, to a 676,000 annual rate. Sales are up 12.7% from a year ago, the 12-month average just 1.1% below February’s post-2008 high. Existing Home Sales dropped 9.7% in May, to 3.910 million annually. But those contracts were signed at the height of the lockdowns, while New Home Sales, logged at contract signing, are a timelier indicator of current activity. Freddie Mac: “After the Great Recession, it took more than ten years for purchase [...]

By |2020-06-29T09:30:05-05:00June 29th, 2020|Market Trends, Updates|
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