Nashville housing market stabilizing
A recent report from WKRN.com brings some welcome news for prospective buyers and investors in the Nashville housing market. The area has seen unprecedented numbers in sales and home value appreciation over the past couple years. However, some in the industry are suggesting that a more stable housing market is on the way. “The Hermitage market inventory has doubled in the past 12 months,” Bobby Hill with Crye-Leike Realtors said. “The Lebanon market has gone up half month supply; then we’ve got Mt. Juliet which is hot. It’s really doing good that inventory has reduced a little more.” According to Zillow, monthly home value appreciation has slowed for the first time this year. The market remains hot, with the average time on market at 10 days for Nashville homes, but realtors are starting to see a shift. They’re starting to see push back in the marketplace from buyers towards sellers who are getting overzealous with their asking price. It’s predicted that by next Fall, the market might be leveled out again. Have you considered investing in Nashville-area real estate? Omni Realtors are experts in the field and we’d love to help you explore your options! Read more about our real estate investment services HERE.