Tuesday, December 12, 2006

November Freeze

Although prices were up, home sales dropped 9% in the Nashville area in November. While sales of commercial, multi-family, land and more were down, the downturn was driven entirely by the largest drop in single-family home sales in at least five years.

Realtors are naturally concerned, but overall most agree that the market is balancing itself out after the years of rapid growth. If buyers are hesitant, they should reconsider as interest rates are very low and they can afford to be picky when house hunting. Sellers need to be extremely cautious in pricing their homes correctly and in staging them to be appealing to buyers.

Read the Tennessean article here or visit the Greater Nashville Association of Realtors web site for consumer information.


Post a Comment

<< Home

Add to Technorati Favorites