The Music City has recently made several Top 10 lists. Thrillst.com ranked Nashville #1 on The 25 Best US Cities to Spend a Weekend list, TheRealDeal.com named Nashville #10 on their Top Places to Live in the South list, Auction.com has Nashville at #3 for 2016 Top Single-Family Housing Markets, and Forbes.com has Nashville at #6 for Job Growth in the U.S.
Nashville is continuing to boom and people are noticing. The housing market is becoming increasingly more aggressive with Nashville being described as a “seller’s market”. Prnewswire.com says “the area’s population gain at 1.9 percent in recent years is more than double the U.S. rate, trending toward continued growth in its single-family housing market. “
There were 3,141 home closings reported for the month of March, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents a 10.7% increase compared to the 2,837 closings in March 2015.
Interest rates are still historically low and officials at the Federal Reserve have been described as “in a patient mood” by The New York Times after their most recent meeting in March. Their patience is good news for buyers, who are clamoring to find housing and take advantage before rates increase. So, if you’ve been thinking of selling your home, now is the time! Buyers are eager and according to GNAR; inventory is down compared to March 2015.