In case you missed it, the Greater Nashville Board of Realtors reported that sales for the area were up approximately 25% for both the month of April and year to date. Inventory was also down by about 12%. This explains the call I had from an agent this morning wanting to make sure his client had been pre-approved. He proceeded to tell me that in the areas this young couple was looking that every time they started to look at a certain home it was sold out from under them. So we are probably reaching a state of the new normal in the real estate industry. It isn’t like the “good old days”. But there is reasonable hope of a seller to sell their home (average 88 days) and the buyers are still able to contract for good terms. It is still a buyer’s market, but if you are wanting to buy, the edge is slowly but surely moving toward the seller.
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