Shortest Backlog of Homes for Sale Since Before Recession

Home sales in the Nashville area are continuing to run up the score compared to last year. Suggesting the demand for houses is catching up with the supply, the number waiting to sell dropped to its lowest level since 2006.

Last month the typical price for a single-family home inched up to almost $180 thousand. But despite more sales, condo prices were short of eye-popping, at just over $150 thousand.

One factor may have been tougher rules to get federal backing to buy a condo, says Veteran realtor Marcie Nash. But she says now all they need to bounce back is time.

“I think they’re just slower to recover, but I think they are recovering, and it’s just getting the momentum going now. It sounds like loans will go through and I think condominium prices will catch up with single-family homes.”

Overall sales tend to cool off during fall, but Nash says this year no one’s complaining about staying busy into winter.

Source: Greater Nashville Association of Realtors (pdf)

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