May 2009 Nashville Real Estate Market Stats

The Middle Tennessee MLS (Realtracs) just released May 2009 stats. The following graph and analysis are based upon the residential single family homes and condos market. As you may recall in April, closings were up almost 65% from January. Did May continue breaking our expectations?

may 2009 nashville real estate market stats

Inventory levels continued a slight rise in May, up 1.2 percent from April and 10.8 percent since January. There were a total of 17,626 active homes and condos in Nashville last month…read the full Nashville real estate market analysis

If you found this article helpful, you may also enjoy:

2 Year Analysis of Nashville Home Prices

analysis of nashville home prices

The above graph shows a median price analysis compared to the average inventory held for the Nashville single family home market since the first quarter of 2007 through the second quarter of 2009. This is market information that I have collected using the official home sales numbers from GNAR and are deemed to be accurate…see the entire analysis of Nashville home prices

If you found this post interesting, you may also like:
2 Year Analysis of Nashville Condo Prices
Federal Tax Credit Used as Down Payment
The Healthiest Housing Markets for 2009
January Home Sales Numbers For Nashville

2 Year Analysis of Nashville Condo Prices

nashville condo price analysis graph

The above graph shows a median price analysis compared to the average inventory held for the Nashville condo market since the first quarter of 2007 through the second quarter of 2009. This is market information that I have collected using the official condo sales numbers from GNAR and are deemed to be accurate. See the full Nashville condo price analysis

If you found this post helpful, you may also like:
The Terrazzo Gains Commercial Office Tenant
Upcoming Condo Foreclosure in The Enclave
The Gulch in Nashville Featured in USA Today
Downtown Nashville Condos Sold in 2009
Nashville Real Estate Market Report February 2009

Real Estate Market Trends in Nashville

According to the latest Zillow real estate market reports, home values in Nashville decreased 5.6 percent in the first quarter of 2009, compared to the first quarter of 2008. Nationally, home values decreased 14.2 percent during this same period and have fallen 21.8 percent since the market peak in 2006. Additionally, one-fifth (21.9%) of all homeowners in the United States is in negative equity, and one in five homes sold in the past 12 months was a foreclosure…read the entire Nashville real estate market trends story.

If you found this market information helpful, you may also like:
Nationally Pending Home Sales Are Up
Nashville Real Estate Market Report February 2009
Multifamily Housing Starts Unexpectedly Surge
Nashville Market Update

Nationally Pending Home Sales Are Up

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

Slight Drop in Nashville Mortgage Rates

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.82 percent during the week ended April 16 from 4.87 percent the prior week, while interest on 15-year fixed loans fell to an average of 4.48 percent from 4.54 percent. The five-year hybrid adjustable mortgage rate slipped to 4.88 percent from 4.93 percent, but the one-year ARM rose to 4.91 percent from 4.83 percent.

Read the entire Nashville mortgage rates story.

If you enjoyed this post, you may also like:
Mortgage Rates Hits New Record Low
Mortgage Rates Continue Historic Fall
Interest Rates on New Nashville Mortgages Jump
Nashville Real Estate Market Report February 2009

Speak Your Mind

*