Despite interest rates being a half point higher than they were last February, there were more closings, more homes added to the market, and the highest median price since last July.
Category: Homeowners
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Nashville Real Estate Market February 2024
January ended with 30 year interest rate averages of 6.69%. After four months of rates above 7%, a second month in a row of rates in the 6’s helped thaw our frozen market.
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Nashville Housing Market January 2024
While we’re still in a Seller’s Market, actual Buyers are experiencing a more balanced market.
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Habit Stacking for a Safer Home
While habit stacking helps me remember to apply sunscreen and floss, non-daily habits throw me off. Monthly heartworm pills for dogs and air return filter changes for example.
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Fall Yard Blitz
After it seemed the heat of summer would never end, all of a sudden fall is here. October brings cooler weather and by Halloween we’ll be eyeing our first chance of frost, making the next few weeks the perfect time to tidy up your yard and plant seeds (or bulbs) for next spring. Be it procrastination or my love of a deadline, making a day of it is sometimes the best way to get it done.
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Opportunities Increasing for Savvy Buyers
How many more houses the Nashville area needs to meet demand is influenced by the cost to borrow. Extremely low interest rates in 2020 and 2021 led to an enormous gap between how many homes our market could absorb and how many were for sale.
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Cooling a Hot Seller’s Market: Local Demand Meets Rising Interest Rates
As mortgage interest rates have risen, our local Middle Tennessee housing market has cooled but definitely not stalled. Following supply, an indicator of how many months worth of houses buyers have to choose from, we are still very much in a seller’s market.
Affordable Housing
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Seller’s Markets, Buyer’s Markets, and Supply
If 6 houses close in 1 month, and there are 12 houses available, then there is a 2 month supply.
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For People Who Ask Why the Nashville Real Estate Market is So Competitive
Time equals freedom, and long commutes just add to the time that working to make a living takes from what could be family, fun, rest, or sleep time.
When people start to really contemplate their commute times and put a premium on their distance from work, that creates demand in urban neighborhoods.
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How to Stay in Your House Forever
Take the accumulated stuff off every countertop, desktop, and dresser and burn it.
