Mortgage Rate Risk + Inventory = ? | Nashville Housing Update
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- Опубліковано 9 лют 2025
- This is a Data centric Analytical approach to the Nashville Tn Housing Market. We look at trends in active listings, median price, mortgage rates, contracts, rent rates
Ethan Flynn
www.ethanflynn.com
423-767-6000
tflynn@realtracs.com
www.ethanflynn.com
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TN CPA License: 24309
TN Real Estate License: 356949
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www.realtracs.com
Recurve Real Estate
DANA JORGENSEN
PRINCIPAL BROKER | OWNER
LICENSE: 344195
(615) 496-3837
dana@recurverealestate.com
#housingmarketupdate #nashville #housingcrash #housingmarket
www.ethanflynn.com
Let's talk! Book time here: calendly.com/ethanflynn/30min
Great point at circa 10mins- You cant low ball a house that everyone wants/ that has just been listed. Well you can, it's just very unlikely to lead to a deal.
Exactly!
Love the neighborhood tracker! Sucks that I want to buy in Westhaven where there isn’t distress but at least I have data on only the houses I actually care about. Your software is the best in the business.
Thanks Sam! Happy New Year!
Ethan: Very solid analysis. It reinforces the fact that the market is highly fragmented, and the "county level" analysis is much too broad and diversified to provide any meaningful information to a buyer or seller. One really has to take the analysis down to the census tract level to really understand what is happening at any given point in time.
Thank you! I agree! That's exactly why I created the Neighborhood Tracker.
Ethan,
You stated most people were thinking that the more available inventory would result in lower prices. However, you advised this is not the case in the Nashville area, and single family homes are still about $500K with over three months of supply. Do you think buyers who are not interest rate sensitive are purchasing $700K+ homes is what is keeping the average up? I appreciate your weekly videos and Happy New Year!
Yes. A lot of inbound migration/strong balance sheet is holding up the market. In fact, if it disappeared which I don't think it will, our locals can't hold up the market.
I think prices are allowed to stay high due to the glut of people moving to TN from high cost of living areas of the US
Migration is a big driver
Why in Franklin with 1.1M you buy a house looks like 500K! Price are so overpriced
Hi Ethan: I know you only do Nashville area but any update on Cookeville and Putnam County?
I haven't looked in a while. I'll see if I can update some statewide info soon that might give some insight. Thanks for watching!
Hello! And yes you can lowball the seller. Just don' buy the house. There are several homes in the william county that have been waiting for months. They ate noce houses but way over priced.
Can you send me a couple of addresses you are seeing?
It could drag it down a little. I don’t really care about a few percentage points on price either way. It’s the number of transactions. Existing home transactions is the ONLY thing that matters to those of us trying to make a living.
Hard to see that coming back anytime soon. Maybe we go up 10% next year. We will need a few years of that to get back to where we were.
Beginning to think we will be renters for a long time. It makes no sense to buy when the same house is cheaper to rent.
Hoping it will come back into balance soon.
Stay liquid. The economy since the summer/fall of 2020 has been horribly distorted with the money illusion. We have been living far beyond our means. Leverage cuts both ways. 😢
I hope your right I’ve passed on so many deals in Antioch cause I just couldn’t digest the prices on housing.
"Horribly distorted". I agree.