The National Association of REALTORS (NAR) says over 50 percent of March’s home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties. Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of homes on the market and spark a recovery…see the full real estate market boosted by first time buyers article.
If you found this post helpful, you may also enjoy:
Another Tax Credit for First Time Home Buyers
Real Estate Slump End in Sight?
The Gulch in Nashville Featured in USA Today
Luxury Rental Property in Nashville, TN
From NAR’s Research Division this past week:
“Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3…rest the rest of the pending home sales are up nationally story.
If you liked this post, you may also like:
Nashville Real Estate Market Report February 2009
The Healthiest Housing Markets for 2009
Philosophically, Where is the Nashville Market?
Taking Nashville’s Real Estate Temperature
There were 1,267 home closings reported for the month of February, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 33 percent from the 1,892 closings reported for the same period last year.
There were 1,452 sales pending at the end of the month, compared with 2,183 pending sales at this time last year. The average number of…see the full February 2009 Nashville real estate market report.
If you enjoyed this post, you may also enjoy:
Multifamily Housing Starts Unexpectedly Surge
January Home Sales Numbers For Nashville
Home Prices Slide in Nashville Area
For the first time since 1994, there were less than 1,000 closings in Nashville during the month of January. Only 984 properties closed during the month, a 40% decline from just one year ago. So, what is selling? Auctions. Check out some of the incredible deals on Nashville auctions.
If you enjoyed this post, you might also like:
Nashville Housing Inventory Declines
National Home Sales are Flat
Home Sales Are Stabilizing