A new analysis puts Nashville as one of two cities most at risk for seeing home prices decline, elevating the threat level for Nashville’s housing market.
Arch Mortgage Insurance just released their
housing report and it says Nashville has a “moderate” risk of home prices declining in the next two years. In 2016 it ranked Nashville as “low” risk.
And while home sales are subject to seasonal swings, prices look to be softening already. In the past three months,
median home prices have steadily declined from $294,000 in June to $280,000 in September.
The only other metro area with such a high risk was Fort Lauderdale, Florida. The report says Nashville was elevated mostly due to home prices growing faster than incomes, which hurts affordability.
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