Industry News

Nashville breaks real estate sales record

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Home sales in the Greater Nashville, Tenn., housing market rose 13.7 percent in November from the same month a year ago, and have already broken last year's record, according to data released by the Greater Nashville Association of Realtors. There were 2,762 home closings reported for the month of November, compared to 2,429 closings reported for November 2003. Year-to-date closings through November are 33,584, a 14.7 percent increase from the 29,262 closings reported through November 2003. Total sales for 2003 were 31,855. "At the end of last year home sales in the Greater Nashville area exceeded the 30,000 level for the first time ever. We have now exceeded the record set last year and still have an entire month yet to go," said GNAR President Jay Lowenthal. "It is important to remember that the market is very healthy and is expected to remain so, even if we don't set a new record every year. That would be an unrealistic expectation." The average number of days on the market for a s...