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Kenneth’s update 05072025… All key reporting segments increased M-T-M except for Pending Sales that did not produce as many contracts as anticipated. The inventory continues to expand with 13,249 available listings as of April 30, 2025, offering a larger selection for the Buyers pool in Middle Tennessee. Y-T-Y comparison produced lower production and values compared to April 2024, except for the much-needed increase in available inventory.

Mortgage rates ended the month slightly higher after beginning the month with a slight dip the first week of April 2025 and then spiked the second week with slight declines the following weeks of the month. The following chart, courtesy of Mortgage News Daily, demonstrates the month’s daily flow for the Average 30-Year Fixed Mortgage Rates for the period of April 1, 2025, through April 30, 2025. The chart provides an average 30-year fixed mortgage rates from several different surveys including Mortgage News Daily (daily index), Freddie Mac (weekly survey), Mortgage Bankers Association (weekly survey) and FHFA (monthly survey).

National economic policies and inconsistencies of economic goals appear to be influencing home buyers, though slightly, as demonstrated in the Pending Sales reported for the month of April 2025. Will confidence return to house hunters in real estate investments and generate more contracts in the month of May 2025? Should you jump into the real estate market as Spring moves forward? Increased inventory and minimum fluctuation of interest rates offer home buyers and home sellers incentives to participate in Middle Tennessee’s real estate market. Contact your trusted lender to evaluate your home buying power dollars, and your favored REALTOR®, to discuss the current conditions and take advantage of the home buying and selling process.

The Greater Nashville REALTORS® recently released a report for the month ending April 30, 2025, as follows: There were 2,963 closings; 2,743 pending sales; 13,249 inventory; 50 days on the market; and the median price for single-family dwellings of $500,000, and $350,000 for condominium classifications. The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.

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Pending home sales – Pending Home Sales is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales.

MARKET CONDITIONS - NASHVILLE AREA

Stable Mortgage Rates Are Drawing Out Home Buyers | 05162025

America's Housing Affordability Gap Persists | 05152025

More Than 80% of Metro Areas Posted Home Price Increases in First Quarter of 2025 | 05082025

Home Staging Boosts Sale Prices and Reduces Time on Market | 05062025

Mortgage Rates Ease Slightly: Is it enough to grow spring sales? | 05032025

Pending Home Sales Jumped 6.1% in March | 04302025

Existing-Home Sales Receded 5.9% in March | 04252025

Top Remodeling Projects for Satisfaction Revealed in NAR Report | 04092025

Baby Boomers Regain Top Spot as Largest Share of Home Buyers | 04022025

Pending Home Sales Advanced 2.0% in February | 03272025

Existing-Home Sales Accelerated 4.2% in February | 03212025

Black Homeownership Rate Sees Largest Annual Increase Among Racial Groups | 03182025

Pending Home Sales Waned 4.6% in January | 03022025

MARKET CONDITIONS - NATIONAL

MORTGAGE RATES | CALCULATOR

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Vendor List

The Vendor List is provided as a guide, and not guaranteed. Information gathered is based on first-hand experience, trusted referrals, and sources. In general, it is recommended to receive three (3) quotes during vendor selection. Your feedback is greatly appreciated to maintain an accurate and valued Vendor List. Please contact Kenneth for distribution of the Vendor List.

Utilities List

The Utilities List provides contact information for Electric, Natural Gas, Water & Sewer for the counties of Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson. Please contact Kenneth for distribution of the Utilities List.

VENDORS | UTILITIES

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