The Greater Nashville Association of Realtors says even though home sales in Nashville are down, this is still the real estate market’s third best year.
There have been a few more than twenty-one thousand closings in Nashville so far this year- that’s almost ten percent less than what it was at this point in 2006.
President of the association, Richard Courtney says in the past Nashville’s home prices were too high. He says there weren’t enough houses on the market and consumers were forced to buy these homes at inflated prices.
Courtney says Nashville’s decreased sales and increased houses on the market are good things.
“We are in a very stable market where houses are selling for what they’re worth, sellers are forced to provide a better product for buyers because there is so much competition with the inventory being higher. Everyone benefits from a market such as this. We are right where we would like to be.”
Courtney says sellers will make less money and at a slower rate, but the local real estate is healthier and balanced.
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