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|

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|

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 Report Week of May 11, 2020

Last week, purchase mortgage applications increased 6% nationally, up for the third week in a row. Versus a year ago, purchase applications are down 19%, but climbing back, demand now within 15% of pre-shutdown levels. Fannie Mae projects low mortgage rates will send refis through the roof, to $1.4 trillion in 2020, the most since 2012. The extra money lower monthly payments will put in homeowners' pockets should do a lot to restore economic growth. The chief economist for a national [...]

By |2020-05-11T09:25:51-05:00May 11th, 2020|Market Trends, Updates|

Market Update, Week of April 27, 2020: While You’ve Been Home

Existing Home Sales dipped 8.5% in March, but the 5.270 million annual rate was still 0.8% ahead of a year ago. Tight inventories kept demand high, as 52% of the homes sold were less than a month on the market. New Home Sales fared even worse, down 15.4% for the month, the 627,000 annual rate off 9.5% from a year ago. This largest monthly drop since 2013 was put to the effects of COVID-19 social distancing and business shutdowns. In a new [...]

By |2020-04-27T11:11:50-05:00April 27th, 2020|Market Trends, Updates|

Market Update, Week of April 20, 2020

March Housing Starts fell 22.3%, their biggest monthly drop since 1984, as builders cut activities, uncertain about buyer demand, supply chains, and social distancing with work crews. Here's more on COVID-19's effect on the report. Yet the year began so well, starts are still up versus a year ago! Nonetheless, the National Association of Home Builders confidence index fell from a very strong 72 to a weak 30 as a result of the coronavirus pandemic. However, Freddie Mac's chief economist noted: "daily economic activity metrics suggest the economy [...]

By |2020-04-20T13:33:46-05:00April 20th, 2020|Market Trends, Updates|

Market Update: Week of April 13, 2020

Mortgage rates are now near historical lows. Freddie Mac's latest Primary Mortgage Market Survey reports the national 30-year fixed mortgage rate is almost a full percentage point lower than a year ago. In spite of the slowdown, deals are getting done thanks to technology. 34% of National Association of Realtors members had no closing delays. 58% are using virtual tours and 84% e-signature tools. Meanwhile, real estate rebounded in China as CORVID-19 restrictions eased. Real estate sales in China's 30 largest cities hit [...]

By |2020-04-13T09:31:54-05:00April 13th, 2020|Market Trends, Updates|
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