May 2018

Found 2 blog entries for May 2018.

How to Guide Potential Buyers In 2018

The National Association of Realtors recently released the 2018 Aspiring Home Buyers Profile. Of the non-homeowners surveyed, 46 percent were age 34 or younger, 57 percent earn less than $50,000 annually and 81 percent live in urban or suburban areas. Let's look at the mindset of these potential buyers:

Homeownership Goals 
According to the survey, 82 percent reported future homeownership goals, with 58 percent saying now is a good time to buy. So why aren't more first-time buyers coming to the table? Affordability.

While 51 percent of renters expect rent to increase this year, only 15 percent say that would motivate them to buy a home. Improved financial situations and significant lifestyle changes such as marriage or starting a family are

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According to a recent article from "Tennessee Realtors" sales in Tennessee are steady, prices are up and the inventory is down.

   Tennessee saw 6,893 single-family closings in April 2018, up 2.3 percent from a year earlier, while the median price kept rising and available homes shrunk, according to data compiled by Tennessee REALTORS®.

   While home sales rose slightly from 6,736 closings to 6,893, the median price grew 8.3 percent ($203,200 to $220,000), and available inventory fell 23 percent (23,680 to 18,238).

   Somewhat in contrast, condominium sales jumped 21 percent from a year early (530 closings to 642). Meanwhile, the median condo price rose 10.8 percent ($171,250 to $189,700) and condo inventory tumbled 27.9 percent (1,673 to 1,207)

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