If you think the Nashville real estate market in 2016 was active, several projections have recently been released that forecast 2017 could bring even more home sales than what was predicted at the beginning of this year.
But before we turn the calendar to 2017, home buyers are first going to have to navigate the traditionally busy fall market, which according to some economists, could potentially be the hottest market we’ve seen in over 10 years.
Over the summer, the housing market nationwide saw demand continue to rise, with home prices in most markets also on an upward swing. And if you believe National Association of Realtors Chief Economist Lawrence Yun, the change of season likely won’t bring much relief in either of those categories, and things could even pick up steam heading into the new year.
According to data from the NAR, home sales last month moved 4% faster than during September of 2015, and housing inventory across the board has now declined year-over-year for a jaw-dropping 15 consecutive months.
In general, there’s really no reason why the trends we’ve been seeing throughout 2016 shouldn’t remain steady, and with pent up demand still a very big part of the current housing landscape and inventory still unable to keep up with the demand, expect a very active autumn when it comes to Nashville real estate market and beyond.