The squeeze on the housing market is definitely being felt in our neighborhoods. The graph below shows a sampling of summer home sales statistics over the past 5 years. There are two main trends that I'm seeing right now: 1. Less sales overall 2. More of the sales are in the lower price ranges.

It's not fun to talk about, but it's important to take an honest look at what's happening. For the most part, the homes that are selling are those in the lower price ranges. This is why the average sales prices in both Inglewood and East Nashville are lower. If my current clients are any indication, then most of the people buying right now are first-time homebuyers and investors looking for deals.

(If the graph is hard to read on Localism.com, CLICK HERE)

East Nashville and Inglewood still have some major selling points- character, affordability and convenience. They are areas that are invested in community building and preserving the neighborhoods. These characteristics should help keep demand strong over the long term.

If you are thinking of purchasing a home anytime soon, this might be a great time to do it. The mortgage rates took another dip this week, and there is quite a supply of homes, many bank-owned, that present a great opportunity. Even if you have a home to sell, the lower sales price is often balanced by the discount you may get on the home that you would move "up" to.

If you're giving it some thought, call me today. I specialize in these neighborhoods and I'm here to help. -Peter 513-2447

www.NashvilleCityHomes.com