Industry News

Nashville real estate sales bloom

Rising inventory helps balance market

Home sales in the Greater Nashville, Tenn., area posted another month of double-digit growth in February, the Greater Nashville Association of Realtors reported. There were 2,610 home closings reported for the month of February, up 11.6 percent from the 2,337 closings reported a year ago. Year-to-date closings through February are 4,981, a 12 percent increase from the 4,448 closings reported through February 2005. "Home sales in Greater Nashville continued the strong start to this year with a double-digit increase over last year," said GNAR President Christie Wilson. "This region is fortunate to have such a strong housing market, particularly in light of national stories about slowing growth being experienced in many other parts of the country." The median residential price for a single-family home during February was $164,900, up 9.9 percent from $150,000 reported a year ago. The median condo price last month was $145,000, up 12.4 percent from the February 2005 price of $129,000, but...

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