Industry News

Nashville real estate sales climb

Rising inventory fails to bring down prices
Published on Jun 9, 2006

Home sales in the Greater Nashville, Tenn., area grew in May from a year ago, albeit at a much slower pace than at the beginning of 2006, the Greater Nashville Association of Realtors reported Thursday. There were 3,753 total real estate sales reported for the month of May, up 4.2 percent from the 3,600 closings reported for May 2005. Total sales figures include single-family, condos, multifamily, farms, land and lots. Year-to-date closings are at 15,486, the association reported, which is up 8 percent from the 14,286 closings reported through the same period last year. "As we wrap up spring and head in to summer, we are not surprised that home sales have continued a steady climb," said GNAR President Christie Wilson. "We remain optimistic about the upcoming months as pending sales and available inventory figures have increased along with the total number of actual closings." There were 3,894 sales pending at the end of the month, compared with 3,716 pending sales at this ti...

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