Home sales in Middle Tennessee are up for the sixth straight month compared to a year ago. And the number of homes for sale jumped dramatically in March, which officials say shows growing confidence in the economy.
A new report from the Greater Nashville Association of Realtors says home prices have held steady, and the number of pending sales is up.
And GNAR president Lucy Smith says more houses are on the market. She says many people have been wanting to move, but were holding off, out of worry for the economy –
“–The possibility of job loss and layoffs, and now things seem to have stabilized more, and people have more confidence in what their job situation is. And we know there were a lot of people wanting to do something but were hesitant to do it because of the unknown.”
Smith notes spring is typically an up time for home sales, and tax credits have also helped the market. But she says the first-time home buyer’s tax credit expires this month, and probably won’t be renewed.
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