New Greater Nashville Association of Realtors President Alice Walker gave an interesting interview on Nashville Public Radio last week. She commented on the December sales data that we blogged about yesterday. The interview is not available online, so we’ll share the printed article instead. Or, read it on Nashville Public Radio’s web site.
Realtors See Brightside to Down December
Thursday, January 06th, 2011
By Blake Farmer
Nashville area home sales had another down month in December, but realtors say they see signs of slow but steady growth ahead.
There were 1,500 closings last month, which is down nearly seven
percent from the same month in 2009. Greater Nashville Association of Realtors president Alice Walker says an $8,000 tax credit available a year ago makes for an unfair comparison.
“So if you actually go back to pre-tax credit time, say December 2008, our numbers in December 2010 actually exceed that of December 2008.”
For that reason, Walker calls this December “encouraging.”
Realtors say they’re also optimistic because those buying homes now are qualifying under much stricter guidelines for bank loans, making them less likely to fall into foreclosure.
For the full year figures are down about 4.5 percent, though that
doesn’t show the bipolar nature of the housing market. Home sales were way up the first half of 2010, then way down.
Home prices have stayed relatively stable. The median price for a
single family home in the Nashville area is still around $175,000.