Market Update for July, 2021 Greater Nashville TN

NASHVILLE, Tenn. (July 7, 2021) – There were 4,649 home closings reported for the month of June, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 11 percent increase from the 4,191 closings reported for the same period last year. "For the first time since March, we saw weekly inventory levels above the average during June," said Brian Copeland, Greater Nashville REALTORS® president. "While inventory remains low, Realtors are working harder than ever to bring quality homes to the market." Data for the second [...]

By |2021-07-16T10:04:47-05:00July 16th, 2021|Market Trends, Updates|

Market Update for May 2021, Greater Nashville

NASHVILLE, Tenn. (June 8, 2021) – Data for the month of May showed 4,063 home closings, according to figures provided by Greater Nashville Realtors. This figure indicates a 24 percent increase from the 3,267 closings reported for the same period last year. “This type of increase shows how quickly our area’s home inventory is going under contract and closing," said Brian Copeland, Greater Nashville Realtors president. "Buyers must remember, there are great homes out there. You can’t sit on the sidelines as prices and interest rates rise, but [...]

By |2021-06-12T13:21:58-05:00June 12th, 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|

Market Update Week of May 26, 2020: Home Demand is Strong

In April, buyer demand was so strong that 56% of Existing Home Sales were on the market less than a month. But due to the current temporary economic contraction, sales posted the biggest monthly drop since 2010. Housing Starts also took a big dip in April, the first full month of restrictions. But Building Permits beat starts by one of the highest figures since the 2008-09 recession, indicating increased builder interest ahead. Freddie Mac notes that low mortgage rates are "giving potential buyers a good reason [...]

By |2020-05-26T20:17:59-05:00May 26th, 2020|Market Trends, Updates|

Market Report: Week of May 18, 2020

The housing market nationally is picking up. Zillow reports new listings grew 5.9% week-over-week, with the hard hit highest price tier up 8%. New listings are still down annually, but have gained now three weeks in a row. Also growing smaller are the year-over-year declines in purchase mortgage applications. Week-over-week, national purchase mortgage activity has shown gains of 12% and 6% the past two weeks. A new study reveals Google searches for "homes for sale" in 50 metros increased an average of 54% from 2020 lows. Freddie [...]

By |2020-05-18T08:30:28-05:00May 18th, 2020|Market Trends, Updates|

Market Update Week of April 6, 2020: Real Estate Market

While we wait for our miracle, the index of contracts signed on existing homes, Pending Home Sales, rose 2.4% in February, up now two months in a row. This bodes well for existing home sales closing in March and April. In addition to Fannie Mae and Freddie Mac, the FHA and VA are now easing standards for property appraisals and verification of employment on some loans. Please contact us for specifics. Freddie Mac's chief economist noted, "homebuyer demand has declined in response to current [...]

By |2020-04-06T11:40:52-05:00April 6th, 2020|Market Trends, Updates|

Market Update, Week of January 13, 2019

Fannie Mae's Home Purchase Sentiment Index rose in December, close to its record high. Of those surveyed, 59% say it's a good time to buy, up 16% versus a year ago, while 65% think it's a good time to sell, up 7% from last year. The Fed's Flow of Funds report pegged the value of all owner-occupied homes at a record $29.2 trillion in Q3, 21% higher than the peak reached in 2006. But prices rose at a slower pace than the year [...]

By |2020-01-14T14:07:19-06:00January 14th, 2020|Market Trends, Updates|
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