Nashville area homes sales continue to rise after a great summer selling season. By all indications, it appears that the housing industry has made its recovery...And better late than never we say!
Low inventory throughout the middle Tennessee region has contributed to rising home prices. Some areas are showing better than expected appreciation and "bidding wars" However, despite the enthusiasm listing prices are realistic, and in many areas below the the record highs set years ago.
Competitive prices, coupled with historically low mortgages rates, are moving the market again. According to figures provided by the Greater Nashville Association of REALTORS (GNAR), home sales were up 15.9% through the end of September 2013. Overall the year has shown an increase which totals 22% higher than the last. An increase in sales and price are good news for sellers and buyers alike and reinforces the long held notion that home ownership is a strong financial investment. While it is expected to slow through the holiday season, the momentum in the Nashville and Middle Tennessee markets has shown that a recovery is well underway and should continue through 2014!