nashville home prices up 7.5% in first quarter 2013

photo 2corelogic released a new report this week stating the nashville home prices were up 7.5% in the first quarter of 2013 compared to first quarter 2012.  home prices nationally had increased 10.2% in that same period, marking the first double digit increase since 2006.

nashville’s numbers were modest compared to cities like san jose, california who saw a 23% increase in home prices in the first quarter. nashville was able to maintain being one of the top 10 most stable real estate markets during the recession so the argument could be since we didn’t fall as far, we do not have as far to climb back.

as home prices and mortgage rates both increase and our supply balances out (nashville has seen the lowest house inventory levels since 2006 this year), analysts believe the price appreciation will slow in first quarter 2014 to 1.2% on average compared to first quarter 2013.


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