So today while fidgeting with some new software I stumbled upon some Nashville housing market stats that are pretty hard to believe. Say what you will about the economy and the the tax credits, but check out these numbers:
Granted, these stats represent homes currently under contract (both contingent and pending sales) so they may not all close – but wow! Encouraging eh? I’m going to make the assumption that the vast majority of these sales can be attributed to a rush of folks hoping to take advantage of the soon-to-expire $8,00o First Time Buyer Home Tax Credit, as well as those hoping to cash in on the $6,500 Move Up Tax Credit for existing home owners. At present the guidelines require that the buyer be under contract by the end of April and closed by the end June.
Home sales always slow down during the winter months and jump up in spring, but this year, the feeding frenzy is getting started early. If you are a seller thinking of listing your home on the market in 2010, this is probably the best time to do it. Consider this: sales are up, but inventory is way down compared to last year’s peaks. I would normally tell you that this trend will correct itself in the warming months ahead, but in this market – who knows!?! Smart money is definitely in favor of the early bird right now.
