Nashville Housing Market Continues To Grow

Posted at 5:13 PM, Jul 07, 2016
and last updated 2016-07-07 18:13:12-04

Researchers at Freddie Mac found that the Music City's housing market Index is growing up to 12% year to year.

The growth puts Nashville’s market ahead of Salt Lake City and Honolulu to clinch the top spot.

Our diverse economy helped our city escape the major housing collapse and kept us growing ever since.
But right now, it could be difficult to find property to buy.

“The home search right now can be pretty challenging for buyers. Our inventory is low, and it’s been low for some time,” said Denise Creswell. “I always encourage my buyers to put on a little patience, and the right thing will appear when it’s time. So you just have to be patient, and don’t be desperate for something that may not fit your needs. It is the largest investment for buyers so you have to be careful about that.”

When it comes to renting, apartments in Nashville have also done well. The city finished with a 96% occupancy rate in the second quarter.

However, that means if you are looking for an apartment, they could be hard to find.