#nashville-housing-market

#nashville-housing-market

Active listings jumped 32.9% year-over-year to 1,446 homes in February - nearly four times the national growth rate of 7.9%. New listings also ticked up 3.8% compared to a year ago.

Household growth is one of the most direct indicators of housing demand. When you add 357,000 households in 10 years, that's about 357,000 additional housing units that needed to be absorbed by the market, whether it's rental or ownership. That's real demand because these households need a shelter.

According to the proposal, the cost of the program would equal approximately 3% of Tennessee's annual state budget. It could be funded by the state's recurring surplus estimated at $1.5 billion to $2.5 billion per year. Mitchell asserted that Tennessee has the fiscal capacity to support the initiative without cutting existing services or raising taxes. The money is there. The question is priority, he said.

Rising utility costs continue to be a pain for the average U.S. renter. Energy-efficient rental features that help lower these costs like LED lighting, good insulation, and smart thermostats are becoming a baseline for renters.

Spanning 6.5 acres, the grassy property centers on a two-story estate full of elegant living spaces and custom amenities. Three arched doorways mark the entry, leading into a chandelier-topped foyer with dual staircases. Elsewhere in the 12,862-square-foot interior are seven bedrooms, nine bathrooms, a wood-paneled living room, a formal dining room with a fireplace and an eat-in kitchen anchored by an oversized island.

In December, Memphis saw its active listing count soar to 2,123, marking an impressive 20.7% increase compared to the same time last year. This was a significant rise above the national increase of 12.1%. While the number of newly listed homes in Memphis dipped to 446, a 9.3% decrease from the previous year, the overall swell in inventory signaled that homes were lingering on the market longer, creating a prime environment for buyers to explore their options.

"When I think about the best cities for young adults, I start with what recent high school and college grads actually value: access to jobs, reasonable housing costs, walkable or active social scenes, and the ability to build independence without being financially stretched from day one," says Danielle Andrews, realtor with Realty One Group Next Generation. But where exactly are these young person-friendly spots?

Houses are still too expensive. The S&P Case-Shiller index shows home prices continue to rise month after month, although the increase has decelerated. Mortgage rates are too high, mostly above 6%. Three years ago, the figure was close to 3%. Realtor.com says some markets are affordable, particularly for first-time buyers. They are in cities with low incomes and are not on America's expensive coasts.

In December, Portland's active listing count impressively rose by 3.7% year-over-year, reaching an enticing 2,005 homes. Although this increase in inventory was more modest than the national trend of a 12.1% rise, the city offered a wealth of options for eager buyers. Interestingly, the number of newly listed properties in Portland declined by 20% compared to the previous year, hinting at a fascinating dynamic where existing homes captured the spotlight while fresh listings took a backseat.

In May, home prices rose moderately from the month before, with a median listing price of $268,500. The number of listings on the market grew 12.9%, which is a bigger increase than normal for this time of the year in Indianapolis, and homes are also selling slower than at the same time last year. Home prices in Indianapolis Typically, home price per square foot in Indianapolis tend to rise in May.

Realtor Todd Luong of REMAX DFW Associates in Frisco said his recent experience reflects meaningful improvement for buyers, even if affordability remains strained. Here in the Dallas real estate market that I serve, affordability remains a challenge, he says. However, there is a significant amount of data showing that buyer conditions have improved over the past year and that buyers are gaining affordability ground. This should eventually increase housing demand to some degree as we head into the busy spring buying season.