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July Data Shows Rising Home Sale Numbers and Shrinking Supply of Homes For Sale

July metrics show a slight shift back to a seller’s market, as strong sales outpaced newly listed homes hitting the market.

There were 4,189 home closings reported for the month of July according to figures provided by Greater Nashville REALTORS®. This figure is up 9.9 percent from the 3,812 closings reported for the same period last year.

“We are excited to see that home sales continue to increase across the region,” said Andrew Terrell, Greater Nashville REALTORS® president. “According to the National Association of Realtors, 65 percent of consumers nationwide say it is an excellent time to buy a home as stated in their HOME Survey Housing Opportunities and Market Experience released in June 2019.”

“Sales data for July showed a slight decrease in inventory across the region, but with mortgage rates hitting a three-year low, it comes as no surprise. Homes are selling fast, and the best way to navigate our vibrate local housing market is with a Realtor. More than an app, a Realtor knows the market, knows how to negotiate and adheres to a strict code of ethics, thus ensuring, you the consumer is taken care of,” added Terrell.