The numbers are in for Davidson County’s November Home Sales. The Greater Nashville Association of Realtors® (GNAR) has just announced that home sales have increased by 58.7% from this time last year. However, 2009 total year to date home sales have decreased by 14.3%: from 22,824 in 2008 to 19,571 in 2009
GNAR President, Mike Nichols attributes the rise in November sales to the looming deadline of the initial home buyer tax credit, which was scheduled to expire on November 30.
The number of home closings being so high in November is due largely to the first-time homebuyer tax credit. No one knew whether the original deadline would be extended, so many people chose to act on the opportunity to purchase a home
- Mike Nichols, GNAR President
Nichols goes on to speculate that the increase in home sales is great news for the local economy as new homeowners flock to their local furniture to turn their new house into a home.
A comparison of sales by category for November is:
| November 2008 | November 2009 | |
| Closings | 1,243 | 1,973 |
| Residential | 1,029 | 1,621 |
| Condominium | 155 | 262 |
| Multi-Family | 21 | 16 |
| Farms/Lands/Lots | 38 | 74 |
To read the rest of the GNAR press release, click here.
Visit www.HomesByDoyle.com to view homes for sale in the Greater Nashville area, including Brentwood TN, Franklin TN, and Nashville.
[...] million home buyers have taken advantage of the home buyer tax credit. Though there appears to be an increase in the rate of home purchases, and a decrease in the inventory of homes for sale, there are still huge problems on the mortgage [...]
By: Real Estate Update: Home Inventories Decreasing while Mortgage Problems Remain « Homes By Doyle: The Brentwood TN Insider on January 5, 2010
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