Industry News

Nashville real estate sales smash records

Rising inventory to balance market in '06

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Home sales for the Greater Nashville area reached an all-time high in 2005 and for the month of December, the Greater Nashville Association of Realtors reported Monday. According to figures provided by the Greater Nashville Association of Realtors, 38,874 homes were closed in 2005, representing a 6.5 percent increase from the 36,469 closings reported for 2004, previously a record year for area home sales. There were 3,362 closings during the month of December, which is a 16.5 percent increase from the 2,885 closings reported for the same period last year, and the first time home sales have surpassed the 3,000 mark in December. "The record-breaking year for home sales is great news for the Greater Nashville area," said Christie Wilson, 2006 president of the Greater Nashville Association of Realtors. "As we see some real estate markets slow down in other parts of the country, it's encouraging to know that our market is not only healthy but remains quite vibrant going into the New Year."...