Spring has finally arrived! And, much like the weather in Tennessee this time of year, the Real Estate Market has been seeing a lot of ups & downs! Mortgage rates continue to fluctuate almost daily between 5% and 7%. Housing inventory is up, and all signs tell us its a “balanced market.” And yet, we still see buyers and sellers hesitating to enter the market.
The fact remains; quality homes that are priced right are selling. We are even seeing multiple offer situations in specific neighborhoods begin to appear again. Inventory continues to be a challenge in certain price points and specific areas which helps to keep prices stable and listing opportunities attractive.
Over the past five years Nashville has seen over 130K people relocate to Nashville. That averages over 77 people a day coming to our great city. Not only is Nashville one of the strongest job markets in the country, we are a top ten tourist destination. These two factors alone mean more rentals, more investors and more first time home buyers.
Want to learn more about the factors impacting your Real Estate Investments? Let us be your Real Estate Economist of choice. Give us a call!
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