Nashville Real Estate Continues Decline In April

There were 1,747 home closings reported for the month of April, according to figures provided by the Greater Nashville Association of REALTORS®.  This represents a decrease of 18.5 percent from the 2,145 closings reported for April 2010.

Year-to-date closings are also down compared to 2010 with 5,655. That is an almost 10.5 percent decrease compared to the 6,337 closings reported through April 2010.

“The real estate market in Greater Nashville is showing some positive signs,” said GNAR President Alice Walker. “The number of closings is increasing, inventory is showing a seasonal increase but has leveled off some overall, and other factors like interest rates remain very favorable.”

“By now, most people realize that comparing 2011 figures with those from a year ago creates a distorted picture due to the first-time homebuyer tax credit that prompted higher sales through the first three quarters of 2011. But, compared to 2009, home sales are up nearly 9 percent which is encouraging to both home buyers and sellers, as well as the Realtor community. As we enter the more active months for real estate activity there is more optimism than has been the case in recent years.”

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