The Nashville market had another growth month in April according to Greater Nashville Association of Realtors. Sales are up 27% from the same time period a year ago. According to GNAR President Price Lechleiter. “It is encouraging to see consistency and growth in the number of closings each month. And, it is worth noting that the last time there were more than 2,700 closings in a month was August 2007 with 3,359.”
These are wonderful numbers and certainly noteworthy, but Realtors nation wide are still cautiously optimistic. Price Lechleiter continued on saying. “While the news is currently positive, there is still significant concern about possible government decisions impacting the housing market. The wrong choices could easily have a major negative impact in a very short time. Realtors from Nashville, and across the country, will be in Washington, DC next week. We will be meeting with elected officials, asking them to protect the mortgage interest deduction, preserve the mission and purpose of FHA and restructure Fannie Mae and Freddie Mac to assure that mortgages are available to consumers in all economic conditions.”
Days on the market from April 2012 to April 2013 have gone down by almost 2 weeks. This is obviously very important to home sellers, as well as average home prices up 12%.