June Marks 9th Consecutive Month of Increased Home Sales

    Good news Nashville – sales in Middle Tennessee are continuing to improve month after month after month. The stats are out for June, and there was a 15.5% increase over June of last year (2,416 homes sold in 2010 versus 2,091 sold in 2009). 

    The second quarter of 2010 showed a 24.7% increase over the same time period last year. 6,831 closings were reported in this year’s second quarter, compared to 5,478 in last year’s second quarter. 

    And even more encouraging, overall for the year our market has shown a dramatic increase. 2010 is shaping up to be a great year, with a 19.3% increase in sales over the first half of last year.

    Inventory was down by almost a thousand units compared to June of last year (23,640 vs. 24,552).

    There were positive words from GNAR President Lucy Smith: "For the ninth consecutive month we have seen an increase in home sales and every county saw home sales growth through mid-year. More good news is that Congress passed an extension of the Homebuyer Tax Credit closing deadline. This legislation gives many Middle Tennesseans an additional 90 days to complete their transactions. Originally, buyers under contract by April 30 needed to close by June 30 to qualify, but now have until September 30 to close on their transactions. And, as interest rates remain remarkably low, now is a great time to explore the possibility of homeownership."

    Read the full GNAR press release.

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