Nashville housing market remains one of the hottest markets in the US. Despite the pandemic led economic slowdown, there is healthy demand to purchase homes in the Nashville real estate market. Across the nation, we have seen people moving from big cities to the suburbs. Nashville too has seen an influx of buyers coming from larger markets like Seattle, New York, and California.
Another factor of increase in the out-of-state homebuyers is that Tennessee is one of only seven states that does not impose an income tax and one of two that doesn’t collect tax on earned income. This has increased the demand in many folds. High demand and low inventory are leading to the rise in home prices in Nashville at a fast pace.
This is a great trend for For Greater Nashville sellers. Currently, the inventory remains low and the prices will continue to rise for the next twelve months (check our 2021 forecast). Interest rates are at an all-time low making things a bit easier for the buyers in this fast-paced seller’s market. For buyers, Nashville’s quality of life and relative affordability compared to the rest of the country makes it a great place to invest or buy a house nonetheless.
There were 4,364 home closings (res plus condo) reported for the month of October according to figures provided by Greater Nashville REALTORS®. This figure is up 17 percent from the 3,742 closings reported for the same period last year. The median price for a residential single-family home was $349,000, and for a condominium, it was $245,000.
This compares with last year’s median residential and condominium prices of $316,702 and $233,900, respectively. Inventory continues to remain low across the Nashville Metro Area in residential housing. Inventory at the end of October was 7,457, down from 11,435 in October 2019.
The third quarter of 2020 saw a nearly 9% increase in new listings and the number of homes sold over the same period grew by 17%. Most likely, a housing shortage will remain in 2021, keeping home prices high. It is expected that the Nashville real estate market will continue in favor of sellers because of the demand-supply imbalance. Home prices could increase by 5-6% in the metro area.
Nashville Housing Market Summary (October 2020)
Here’s October’s houisng data for the Nashville Metropolitan Area released by Greater Nashville REALTORS®. Monthly home sales data includes the following counties in Middle Tennessee: Davidson, Cheatham, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.
Pending Sales: 3,819
Days on Market: 25
Housing Type
Closings
Median Price
Inventory
Total
4364
—
7457
Residential
3535
349000
4883
Condominium
555
245000
l005
Multi-Family
25
—
63
Farm/Land/ Lots
249
—
1506
Redfin.com, a real estate brokerage, considers the Nashville housing market to only be “somewhat competitive.” Homes in Nashville receive 2 offers on average and sell in around 40 days. The average sale price of a home in Nashville was $344K last month, up 16.3% since last year. The average sale price per square foot in Nashville is $199, up 11.2% since last year.
Average Sales Price: $344,000 (+16.3% since last year)
Average price per square foot: $199 (+11.2% since last year)
Average time on market: 40 days
Sales Activity: 1,412 sold (+13.7% since last year)
S/L: 98.7% (a seller wants a sale-to-asking price ratio of something like 100% or above, while a buyer would prefer a ratio that’s closer to 90%)
Courtesy of Greaternashvillerealtors.org
Nashville Real Estate Market Forecast 2021
What are the Nashville real estate market predictions for 2021? Let us look at the price trends recorded by Zillow (Home Value Index) over the past few years. Nashville has a record of being one of the best long term real estate investments in the U.S. Since 2021, the Nashville home values have appreciated from $155,000 to $298,039 — that’s an appreciation of nearly 92%.
As of now, Zillow considers the Nashville real estate market to be a “seller’s market” which means that there exists a limited supply of homes in Nashville, and buyers are forced to compete often resulting in higher prices and/or quicker sales that tend to benefit sellers.
Even though home values in Nashville rose by 7.8% over the past year, prices are actually expected to continue rising at the same pace. There’s no relief for buyers in Nashville but it is good news for sellers.
Similar growth has been recorded by NeighborhoodScout.com. Their data also shows that Nashville real estate appreciated by nearly 85% over the last ten years. Its annual appreciation rate has been averaging at 6.37%. This figure puts Nashville in the top 10% nationally for real estate appreciation.
During the latest twelve months, the Nashville appreciation rate was nearly 5%, and in the latest quarter, the appreciation rate was 1.52%, which annualizes to a rate of 6.21%. This figure corroborates Zillow’s positive forecast, which also predicts that home prices in this region are expected to increase by nearly 7% in the next twelve months. In other words, if you buy a property now, then after twelve months, you may expect an ROI of anything between 6-7%.
Here is Zillow’s home price forecast for Nashville, Davidson County, and Nashville Metropolitan Area. The forecast is until September of 2021 and you can expect to see very strong home price gains.
Nashville home values have gone up 7.8% over the past year and the latest forecast is that they will rise 7.2% in the next year.
Davidson County home values have gone up 7.8% over the past year and Zillow predicts they will rise 7.2% in the next twelve months.
Nashville-Davidson–Murfreesboro–Franklin Metro home values have gone up 6.4% over the past year and the latest forecast is that they will rise 4.7% in the next year.
Courtesy of Zillow.com
Here is a short and crisp Nashville housing market forecast by LittleBigHomes. It is for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Nashville is 83% and it is predicting a positive trend. They estimate that the probability of rising home prices in Nashville is 83% during this period. If this price forecast is correct, the Nashville home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
Nashville MSA Real Estate Appreciation Trends
If you are a home buyer or real estate investor, Nashville definitely has a track record of being one of the best long term real estate investments in the US through the last ten years. The historical change in home prices for Nashville MSA is shown below for the three-time periods.
According to LittleBigHomes, the Nashville Home Price Index has increased for the last 25 consecutive quarters (data up to 3rd Quarter, 2018). The highest annual change in the value of houses in the Nashville Real Estate Market was 13% in the twelve months ended with the 1st Quarter of 1982.
The worst annual change in home values in the Nashville Market was -5% in the twelve months ended with the 1st Quarter of 2010. The highest growth in home values in the Nashville Real Estate Market over a three year period was 33% in the three years ended with the 2nd Quarter of 2018. The worst performance over a three year period in the Nashville Market was -9% in the three years ended with the 2nd Quarter of 2011.
Time Period
Nashville Real Estate Appreciation
Last 5 Years
54%
Last 10 Years
51%
Last 20 Years
125%
Nashville Housing Market 2020 Summary
We shall now do a quick recap of how the Nashville housing market has performed in 2020 so far. We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. Nashville is a minimally walkable city in Davidson County with a population of approximately 601,201 people.
Nashville, Tennessee is famous for the Grand Ole Opry, the recreation of the Parthenon, and country music. It is best known as a tourist attraction in middle America. Nashville itself is home to just over six hundred thousand people. That alone makes it the 24th most populous city in the country.
If you count semi-independent parts of Davidson County, then the Nashville real estate market is home to about 700,000 people. The Nashville metropolitan area contains more than two million people. Many of those live in Davidson and Murfreesboro. Nashville has a mixture of owner-occupied and renter-occupied housing units.
According to Neighborhoodscout.com, a real estate data provider, one and two-bedroom single-family detached homes the most common housing units in Nashville. Other types of housing that are prevalent in Nashville include large apartment complexes, duplexes, rowhouses, and homes converted to apartments.
The Nashville housing market has been good for sellers in the past years due to the rising prices, and it is considered one of the hottest housing markets in the U.S. The Nashville real estate boom began about 10 years ago and the investors expect these trends to continue in 2021 and the foreseeable future, making Nashville one of the most desirable housing markets in the country.
There are a number of long term trends that make the Nashville market a good place to invest in real estate without any fear of boom and bust like what hit Arizona during the Great Recession. This year, Nashville comes in at No. 4 in the country for expected activity and price appreciation, in comparison to 25 large markets around the country, according to a survey published by Zillow.
In fact, Nashville was the only market analyzed in which no panelists said they expected home values to fall in 2020. The home values (nationally) were expected to grow by 2.8% in 2020. 59% of panelists expected Nashville home values to appreciate faster than their expected national rate of 2.8%. 31% of panelists expected Nashville home prices to appreciate slower than they do nationally while 10% of panelists expected them to grow about the same as they do nationally.
Over the past couple of months, Nashville’s housing reports showed that this region did experience a strong first quarter of 2020 but the impact of the COVID-19 pandemic and the economic disruptions affected the real estate activity. There was a substantial drop in year-over-year sales due to concerns of transacting real estate during a pandemic.
Impact of Covid19 on the Nashville Housing Market
The Nashville housing market hit a historic low due to COVID-19. As Covid-19 cases began to appear across the state, metro Nashville responded with a “Safer at Home” policy on March 23, followed by similar state guidance a week later. By early April, vast numbers of employees and students found themselves homebound for weeks on end.
Many were concerned about the lasting impact of this pandemic. In April home sales fell 17 percent year-over-year — a major dip due to the negative impact of COVID-19. By comparison, the Greater Nashville Realtors (that covers a nine-county area) said that March home sales increased 3.4 percent compared to the figure of March 2019.
The median price for a single-family home in April was $330,000 (the same as in March), up from the April 2019 median price of $306,970. For a condominium, the median price was $228,500, down 5 percent from March and down almost 1 percent from April of last year. The housing inventory at the end of April was 9,976, down significantly from the 11,627 marks of April 2019.
In May, the number of home sales in the Greater Nashville area dropped by 22% as Covid-19’s economic disruption continued limiting owners’ selling and moving options. There were 3,267 closings in May, down from the 4,172 closings that happened in May 2019, according to May’s data from Greater Nashville Realtors.
After a rough second quarter, the housing market recovered nicely and continues with positive gains. The uptick in closings meant that buyers were still in the market for homes despite needing to make decisions faster about which home to purchase due to low inventory and rising competition.
In August, things showed the signs of the strongest housing markets in the nation. Low-interest rates continued to make Middle Tennessee a market recovery leader. September was another month of high pending sales due to strong buyer turnout. Demand for homes in Greater Nashville was at an all-time high.
There were 4,380 home closings reported for the month of August according to figures provided by Greater Nashville REALTORS®. This figure is up to six percent from the 4,140 closings reported for the same period last year. There were 4,220 sales pending at the end of August, compared to 3,561 pending sales at this time last year. The average number of days on the market for a single-family home was 27 days.
The median price for a residential single-family home was $346,172 and for a condominium, it was $242,500. This compares with last year’s median residential and condominium prices of $315,862 and $232,900 respectively. Inventory at the end of August was 8,459 down from 11,460 in August 2019.
Realtor’s data for the third quarter of 2020 showed 13,419 closings, up 12 percent from the 12,030 closings during the same period of 2019. There were 3,799 sales pending at the end of September, compared with 3,181 pending sales at this time last year. The average number of days on the market for a single-family home was 29 days.
The median residential price for a single-family home during September was $348,000, and for a condominium, it was $245,000. This compares with last year’s median residential and condominium, prices of $318,000 and $236,000, respectively. There were 3,799 sales pending at the end of September, compared with 3,181 pending sales at this time last year.
The average number of days on the market for a single-family home was 29 days. The median residential price for a single-family home during September was $348,000, and for a condominium, it was $245,000. This compares with last year’s median residential and condominium, prices of $318,000 and $236,000, respectively.
The third-quarter of 2020 ended with a 2 percent increase in sales year-to-date. Inventory remained low across the region. Lower inventory coupled with low-interest rates makes for a competitive market for buyers in some areas.
Nashville Real Estate Foreclosures Trends
As per the Nashville foreclosure data by Zillow, in Nashville 0.1 homes are foreclosed (per 10,000). This is lower than the Nashville-Davidson–Murfreesboro–Franklin Metro value of 0.2 and also lower than the national value of 1.2.
The percent of delinquent mortgages in Nashville is 0.6%, which is lower than the national value of 1.1%. The percent of Nashville homeowners underwater on their mortgage is 5.4%, which is higher than Nashville-Davidson–Murfreesboro–Franklin Metro at 5.1%.
There are currently 66 properties in Nashville, TN that are in some stage of foreclosure (default, auction, or bank-owned) while the number of homes listed for sale on RealtyTrac is 1,464. In January 2020, the number of properties that received a foreclosure filing in Nashville, TN was 3% higher than the previous month and 29% higher than the same time last year.
The zip code with the highest foreclosure rate is 37218, where 1 in every 1012 housing units is foreclosed. 37207 zip code has the lowest foreclosure rate, where 1 in every 3874 housing units becomes delinquent.
No. of Foreclosures in Nashville
66 (RealtyTrac)
Homes for Sale in Nashville
1464
Recently Sold
5855
Median List Price
$340,000 (3% drop vs Dec 2018)
Nashville Real Estate Investment: Should You Invest or Not?
Is Nashville a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Nashville is a good investment? You need to drill deeper into local trends if you want to know what the market holds for real estate investors and buyers in 2021.
One of the best features of the Nashville real estate market is the median property price in the city, which is considered more affordable than most of the other top markets for investing in real estate in the U.S.
As the inventory remains limited, it means that Nashville will remain among the fastest-moving housing markets in the U.S. Also, as the mortgage rates remain at record lows, it makes buying a property more affordable now than it was in the previous years.
Let’s take a look at the number of positive things going on in the Nashville real estate market which can help investors who are keen to buy an investment property in this city.
1. A Strong Economy And Job Opportunities
In early 2018, a Quartz article joked that Nashville could give up the nickname Music City and be called Job City. Nashville’s claim to the title was having the lowest unemployment rate of any metropolitan area with more than a million people. Nashville real estate market demand will remain strong as long as people want to move here for work, and unlike some areas, they can actually find it here.
The Nashville area economy includes thriving technology, service, education, health, and manufacturing sectors. Financial enterprises have also discovered the benefits of doing business in Nashville, giving abundant employment prospects to bankers, accountants, and budget analysts. While the tourism industry is thriving, white-collar jobs are expanding rapidly, too.
Almost anyone with a marketable skill can find a good-paying job in Nashville. This trend is expected to continue for at least the next 10 years, with opportunities especially robust for healthcare, IT, and design/media specialists. Average incomes on the city’s west side are higher than in areas east of downtown.
2. Strong Demographic Trends In Nashville
The average age of Nashville residents is around 33, much younger than the national average of 40. This means the Nashville real estate market contains a larger than an average number of young families, and given the strong job market, these adults and their children will contribute to housing demand for years to come.
3. Quality of Life in Nashville Attracts People of All Ages
Nashville was ranked the fastest-growing large metropolitan area in the United States in 2017. This is in no small part due to its high rankings in various quality of life surveys such as U.S. News and World Report. That publication ranked Nashville the 17th best place to live in America in 2020-2021 — giving it high marks on desirability and value.
It was also ranked 12th in their list of best places to retire and 23rd in the fastest-growing places. This means many are choosing to move here because of quality of life whether or not they’re coming for work. Nashville is also known as the Country Music Capital of the World and it has unique museums and architecture.
Today, Nashville is a hot relocation destination with a thriving economy, continuous population growth, and a diverse, ever-growing services base. Consumers who act aggressively to break into the local real estate market should enjoy both a high quality of life and rising home values for the foreseeable future.
Demographics of the Nashville:
College-educated: 40%
Homeowners: 65.6%
Married: 43%
4. Known Redevelopment Opportunities
Redevelopment can be hit and miss since you can’t be sure a waterfront area or community slated for revitalization actually goes up in value. One benefit of the Nashville housing market is that there are known areas of redevelopment where returns are nearly certain. The area around the future professional sports stadium comes to mind. East Nashville is gentrifying, as well.
5. A Large Student Population
The Nashville housing market presents a prime opportunity for real estate investors who would like to cater to students. This is partially due to the fact it is the capital of the state, and it is partially due to the fact that it is simply the largest city in the state. Local universities include but are not limited to Tennessee State University, Lipscomb University, Belmont University, Aquinas College, Fisk University, and Vanderbilt University.
American Baptist College, Trevecca Nazarene University, Meharry College, Welch College, and Nashville State Community College are also located here. If you want to invest in the suburban Nashville housing market, Middle Tennessee State University is located in Murfreesboro. The presence of several colleges and universities, along with both private and public secondary schools, presents rich possibilities to academic professionals.
6. The Tourism Related Rental Market
The Nashville housing market provides two different tourism-related rental markets. One is, of course, renting homes to tourists who are more likely to be families and retired couples than swinging singles. Another possibility is renting to young adults who work in the tourism industry themselves.
Just over a third of the market rents, a figure similar to the national average. This means that a sudden decline in tourism isn’t going to hurt the Nashville housing market much. The city is currently arguing over limits for AirBnB rentals for non-residents, but no restriction on this are in place yet or in the foreseeable future.
7. Affordable Nashville Real Estate
The median home price in Nashville is around $298,000 (Zillow). Nashville is relatively affordable compared to other major U.S. metro areas, though the housing market has become increasingly competitive. You can buy two moderately large single-family homes here for the price of a cheap condo in California, and you can buy half a dozen rental properties in the Nashville real estate market for the price of one good house in New York City.
Nor will the area see a building boom that causes real estate to go down dramatically in value, since rentals had a vacancy rate of around 4% in 2016. Some new housing stock may come onto the market, but not enough to hurt the value of existing homes. The area has seen an increase in its population, as well as a rise in home values. Since Tennessee is one of the few states that doesn’t tax wages, residents are able to keep more of their income, though there is a 6% hall tax on investment interest and dividends.
8. Stability
We’ve touched on the subject of rental market stability. Nashville has high employment rates and low vacancy rates, but none of those numbers are enough to throw the market into overdrive, whether it leads to a glut of supply to meet high demand or a boom-bust cycle. The Nashville Business Journal ranked Nashville as the most stable housing market in the state in 2018. The city’s relatively slow permitting process actually slows down construction of new units, keeping home prices stable and high.
9. It Is Landlord Friendly
Tennessee like much of the south is landlord-friendly. Landlords in the Nashville real estate market don’t have to have a written lease unless the rental agreement is longer than three years, though that’s always recommended. There is a limited payment grace period. Receipts aren’t required for rent and deposit payments, though again, that would be wise. Interest isn’t due on deposits. You can charge late fees but have to specify them in the lease. The only minor issue is that you have to have a rental license before you can be a landlord.
10. The Good Return on the Investment
Interestingly, the average annual salary is about $62,000 (source: Payscale.com), leading many here to rent instead of buy. According to RENTCafe, 46% of the households in Nashville, TN are renter-occupied while 53% are owner-occupied. However, the rental market isn’t so hot that it is guaranteed to collapse anytime soon.
That is why average rent hovers around $1,400 a month, providing decent returns to landlords who don’t over leverage but without worrying about a condo boom to cash in on rental demand diminishing profits over the long-term.
Also, the fact that rents in the Nashville real estate market are almost $200 per month greater than the Tennessee average is a strong reason to buy real estate here than elsewhere in the state. And know that rental rates for large apartments and condos are even higher – commanding rents in the $1500-2000 range. About 25% of the apartments fall in this price range whereas 47% fall in the range of $1,001-$1,500.
As of October 2020, the average rent for an apartment in Nashville, TN is $1396 which is a 4.44% decrease from last year when the average rent was $1458, and a 0.07% decrease from last month when the average rent was $1397.
One-bedroom apartments in Nashville rent for $1246 a month on average (a 4.01% decrease from last year).
Two-bedroom apartment rents average $1500 (a 6.93% decrease from last year).
The average apartment rent over the prior 6 months in Nashville has decreased by $34 (-2.4%).
One-bedroom units have decreased by $32 (-2.5%).
Two-bedroom apartments have decreased by $33 (-2.2%).
Note that the decreasing rents are due to the sudden impact of the pandemic this year. Before the impact of the pandemic, the average monthly rent in Nashville was $1,428, a 6% increase compared to the previous year (source). That’s for 889 square feet, which is an average size for an apartment in Nashville.
The most affordable neighborhoods where the asking prices are below the average Nashville rent of $1,428/mo are:
Airport Estates, where the average rent goes for $1,047/month.
Bayview, where renters pay $1,047/mo on average.
Belair, where the average rent goes for $1,047/mo.
Castlegate, where the average rent goes for $1,047/mo.
Copperfield Terrace where the average rent goes for $1,047/mo.
Curreywood Acres where the average rent goes for $1,047/mo.
The most expensive neighborhoods in Nashville are:
Burton Valley, where renters pay $1,962 on average.
Forest Hills, where renters pay $1,962 on average.
Tyne Meade, where renters pay $1,962 on average.
Bellevue, with an average rent of $1,408.
Hillsboro Village – Hillsboro West End, where apartments go for $1,691/month.
Rolling Mill Hill, where renters pay $1,384 on average.
Midtown – Vanderbilt University with $1,893.
Cayce, where the average monthly rent is $1,462.
Other famous neighborhoods in Nashville, Tennessee are Green Hills, Inglewood, Urbandale Nations, Nolensville, Joelton, Downtown Nashville, Crieve Hall, Hermitage Estates, Hermitage Hills, Donelson-Hermitage-Old Hickory, Madison, Sylvan Park, Antioch-Priest Lake, Old Hickory Village, West Nashville, Green Hills, East Nashville, and Antioch Park.
The Sunnyside neighborhood is one such neighborhood that has grown massively since its founding. It has over 800 homes with historic or architectural significance alone, which should appeal to many homebuyers. For those looking for a deal in this neighborhood, the home prices have dropped by 23.6% since last year.
The average sale price per square foot in Sunnyside is $270, down 23.1% since last year. Redfin says that the homes sell for 2.6% under their list price. Average Price: $717K. Buyers who can afford to buy at this price point should make a move as they hold the upper hand in price negotiations.
Downtown Nashville is another dynamic, urban neighborhood that is the hub of the entertainment and nightlife that defines Music City. It has a lot of great apartment options for rent, but you can also consider buying a property that will keep you close to work, public transit, and all the entertainment you can hope for. It is also a buyer’s market and much cheaper than Sunnyside.
A great market for buyers because it is not very competitive. According to Redfin, the average sale price of a home in Downtown Nashville was $495K last month, down 12.4% since last year. The average sale price per square foot in Downtown Nashville is $569, down 2.9% since last year. Typically homes in this neighborhood sell for around 2.9% below their list price, don’t receive multiple offers, and sell in about 75 days. A high average DOM signals a weak market that favors buyers.
Here are the ten neighborhoods in Nashville having the highest real estate appreciation rates since 2000—List by Neigborhoodscout.com.
N 9th St / Mansfield Ave
S 16th St / Shelby Ave
Gallatin Pike / Greenwood Ave
Eastland Ave / N 16th St
Shelby Ave / S 10th St
2nd Ave S / Chestnut St
Creighton Ave / Riverside Dr
Inglewood
West Nashville
Charlotte Ave / 46th Ave N
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Nashville.
Consult with one of the investment counselors who can help build you a custom portfolio of Boston investment properties. Depending upon the availability, we can help you to find “Cash-Flow Rental Properties” located in some of the best neighborhoods of Boston.
Not just limited to Nashville or Tennessee but you can also invest in some of the hottest real estate markets for rental properties in the United States.
Another housing market to go for diversifying your investments is the Austin real estate market. The Austin housing market may be one of the more expensive ones in the state of Texas, but it stands out for its large rental market and high rental rates. It is an excellent place to invest in real estate in the Lone Star State.
Homes in Austin are 23% cheaper than the national average. It may be the second most expensive housing market in the state with a median home price of around $350,000, but it is still far cheaper than California or New York. Buy up condos or townhomes, and you’ll be able to see a sizable return on the investment.
Similarly, Salt Lake City is another great market for investing in real estate for your retirement. The Salt Lake City real estate market is booming because of an ideal combination of business growth triggering in-migration and strong native population growth. Downtown Salt Lake City properties near the Mormon Temple command a premium, but that isn’t the only upscale market in the area.
Park City and the northern side of Oakley, too, have properties that cost on average well over a million dollars. As you move up Highway 80 toward Hoytsville and Wanship, properties routinely cost more than a million dollars despite the hour commute to Salt Lake City.
All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Boston turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
Is It The Right Time To Invest In Real Estate? – The national homeownership rate is on the decline for the first time since 2017. As demographics change and baby boomers retire, you’re seeing Millennials who may not be ready to buy houses. In 2018, Millennials made up about 22 percent of the population in the United States. They’re choosing to rent over buying a single-family home or an apartment. Rising home prices and shortage of starter homes have not left Millennials many choices but to delay homeownership. Moreover, it’s even harder to take out a mortgage for those who have student loan debt.
Let us know which real estate markets in the United States you consider best for real estate investing!
Remember, caveat emptor still applies when buying a property anywhere. Some of the information contained in this article was pulled from third party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, the Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
References:
Housing Market Data, Trends & Statistics
https://www.greaternashvillerealtors.org/
https://www.greaternashvillerealtors.org/pages/market-data-news/
https://www.zillow.com/Nashville-tn/home-values
https://www.deptofnumbers.com/rent/tennessee/nashville
https://www.redfin.com/city/13415/TN/Nashville/housing-market
https://www.realtor.com/realestateandhomes-search/Nashville_TN/overview
https://www.neighborhoodscout.com/tn/nashville/real-estate#description
https://www.msn.com/en-us/money/realestate/nashville-housing-market-trends-and-prices/
Demographics
https://suburbanstats.org/population/tennessee/how-many-people-live-in-nashville
https://en.wikipedia.org/wiki/Nashville,_Tennessee
Landlord friendly
https://www.avail.co/education/laws/tennessee-landlord-tenant-laws
Quality of life
https://www.nashvillechamber.com
https://realestate.usnews.com/places/tennessee/nashville
Stability
https://thinkrealty.com/nashville-housing-market-room-grow
https://www.bizjournals.com/nashville/news/2018/05/23/report-card-tennessee-best-places-to-buy-a-house.html
Foreclosures
https://www.realtytrac.com/statsandtrends/tn/davidson-county/nashville
Stadium / redevelopment
https://www.tennessean.com/story/sports/2018/09/05/nashville-mls-stadium-pro-soccer-team/1200230002/
https://www.theringer.com/features/2017/11/21/16678002/airbnb-nashville
Employment
https://qz.com/1251382/nashville-tennessee-has-the-uss-lowest-unemployment
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