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Nashville Housing Market Predictions for 2015
Another year of real estate recovery is coming to an end in the United States. Trulia.com predicts that 2015 will look similar to 2014 nationwide, but the housing market is becoming more stable for buyers, sellers, and renters.
The slow and steady process has been good overall for the Nashville area. Trulia ranked Nashville as the #5 market to watch in 2015 because of solid job growth, a high share of Millennials living in and around the city, and increased construction.
Those factors have also led to a 3.8% increase in rentals from the existing inventory, which is why you have probably noticed construction of apartment and condo high rises in several metro areas. The Tennessean reports that Nashville ranks #1 in rental inventory nationwide.
According to the Nashville Post, Nashville-area home prices will likely rise in 2015 simply because of supply factors, and they report that November home sales in Nashville were the strongest they had been in eight years.
For those looking to settle outside of the high rises and night life of downtown, Williamson County offers green space, great schools, and plenty of new construction. The Williamson County Association of Realtors reports that land closings were up 140% over 2013 during the month of November, with many more lots slated for 2015 all over the county.
Thank you for helping make 2014 a great year for me in real estate! This area of the country has always been my home, and I'm here to make sure that you feel at home too. Give me a call if you or someone you know is ready to make a housing change in 2015.
Photo Credit: freedigitalphotos.net