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|

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 – Housing Market in Recovery

The National Association of Realtors reports more than nine in ten Realtors say the market is recovering, as they embrace “technology and business practices to ensure the home buying process continued in a safe manner.” And that recovery is V-shaped. Purchase mortgage applications are up year-over-year between 13% and 33% the past seven weeks, and up 54% for new homes, while pending homes sales rose 44% last month. Home builders are joining the party too. Housing Starts jumped 17.3% in June to a 1.186 million annual rate. So it's [...]

By |2020-07-20T10:10:21-05:00July 20th, 2020|Updates|

August Sales See Continued Growth Across Middle Tennessee

Source: Greater Nashville REALTORS® NASHVILLE, Tenn. (September 9, 2019) – There were 4,140 home closings reported for the month of August according to figures provided by Greater Nashville REALTORS®. This figure is up 4.5 percent from the 3,961 closings reported for the same period last year. "We continue to see healthy growth in home sales across the region," said Andrew Terrell, Greater Nashville REALTORS® president. "This ongoing growth is indicative of super-low mortgage rates and the historic economic growth in [...]

By |2019-09-10T18:58:08-05:00September 10th, 2019|Market Trends, Updates|

Seller Optimism Jumps 12% in Q2

Before you list your home, you want to feel confident in the market and the opportunity to sell your property at a competitive price. And in Q2 2019, it looks like that confidence is on the rise. According to the most recent Homeownership Opportunities and Market Experience (HOME) Survey from the National Association of REALTORS®, nearly ¾ of people—73 percent—believe that now is a good time to sell a home. That’s up from 65 percent last quarter (Q1 2019), a jump of [...]

By |2019-08-04T20:30:06-05:00May 31st, 2019|Market Trends, Updates|
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