The boom on Nashville’s real estate started a decade ago, and these trends are expected to continue for the next coming years. Moreover, it was considered one of the hottest real estate markets in the US.
Due to its local growth and cost of doing business, it made Nashville a desirable place to invest in real estate. Other reasons include the growing demographic and emerging colleges or universities. As more students stay in the city, more are expected to remain upon graduating.
Although Nashville investment properties are hot, real estate investor must know how to analyze the market before buying properties. The bestrealestatedirectory.com teaches real estate investors to perform a market analysis which is needed in real estate investment.
Nashville Real Estate Market Trend 2017
In 2017, Nashville stayed in the nation’s top 10 rankings for real estate markets to watch. The 2017 real estate market made it a good year for sellers due to its rising prices. Home price appreciation has skyrocketed because of migration from other markets. People move to Nashville not just because of jobs coming in, but due to better-paying jobs.
These migrants have a different concept of home buying. Far different from local buyers, they are willing to pay more. For instance, homeowners have sold their houses for an average of 51% from their original prices.
According to Daren Bloomquist, Senior VP at ATTOM, 2017 real estate market is overvalued. They’re expecting that housing appreciation will slow down in 2018 but will not suddenly crash.
Nashville Real Estate Market Trend 2018
The Nashville 2018 real estate market stayed on the top rankings for best markets to invest. Its housing prices are considered more affordable than most of the top real estate markets in the US. Over the first few months of 2018, there is a 1% increase in median home sales. However, from September to October, the median list price went down by 1%.
One of the reasons which impacts home values is foreclosures. This means that homeowners owe more than what’s their property’s market value. But still, the housing market in this area is in high demand. Moreover, there are other long term trends why Nashville housing market is worth investing.
Check the following trends:
Nashville 2019 Real Estate Market Forecast
It will be a buyer’s market for 2019 after the seller’s market on 2017. Therefore, the 2019 forecastis for real estate investors who wanted to invest in Nashville.
The gradual increase of inventory gives investors more options of where to invest.
Moreover, the high housing appreciation rates of Nashville is slowly decreasing. It makes the thrank as one of the highest investor demands in the US for 2019.
Here are other forecasts for Nashville’s 2019 housing market:
When entering the real estate investment, you must be aware of the current trends of the market. It helps in forecasting the possibilities of what might happen.
For instance, the Nashville forecast for real estate market in 2019 tells that it will be a good year for buyers. The prediction is based on the previous year’s housing market. One of the features in it is the median property price, which is more affordable than other cities in the US.
However, it is always good to conduct due diligence before relying on housing market forecast. It can change depending on the economy, population growth, and others. These factors are uncontrollable so you must not take projections too seriously.