Friday, May 11, 2007

Tennessee still hasn't hit the housing slump!

According to the Daliy Real Estate news:
"No Slump Here: Some Markets Buck the Trend

While many housing markets across the country are dealing with drops in home prices and sales volume, there are lots of areas that are bucking the trend with healthy gains.

Among them: the Pacific Northwest, Idaho, Utah, New Mexico, and parts of Texas, Tennessee, Georgia, and the Carolinas, says Lawrence Yun, senior economist with the NATIONAL ASSOCIATION OF REALTORS®.

In Seattle, Coldwell Banker Bain CEO William Riss says single-family homes are in high demand and will appreciate in value by 9 percent to 12 percent this year, following a 12-percent increase in 2006.

Seattle began recovering from a severe economic downturn toward the end of 2004, much later than most other markets, and has a limited supply of inventory due to zoning restrictions. It also is benefiting from the expansion of large employers, including Microsoft, and the exodus of buyers from pricey California into the region.

Another market bucking the downturn is Austin, Texas, where a growing number of reasonably priced townhomes and condominiums are attracting young professionals and empty nesters. Meanwhile, a robust job market and expanding technology sector are fueling sales and price gains in Salt Lake City. "

In addition, according to the Greater Nashville Association of Realtors, April home sales were down, but still reamin strong. Here is the article that wil be released to the media:

"Home sales information for April of 2007 is being released to the media today. The information is being provided to you now, in advance of it appearing in print, so you can be aware of market conditions with direct access to the most recent data.

There were 2,989 home closings reported for the month of April, which represents a 7.6 percent decrease from the 3,236 closings reported for April of 2006. Year-to-date there were 10,979 closings reported, a 6.4 percent decrease from the 11,733 closings during the first quarter of 2006. Greater Nashville remains on track for 2007 to be the second-best year on record for home sales.
Click here for more information and details."


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