Interest rates reached an all-time low this past week when they went to 4.69 for 30 year fixed rates. If you are considering a home purchase this should be the time to move forward! Not only do we have these low rates, we have a buyer’s market. Lots of great homes to choose from and motivated sellers. Some recent research showed that in the middle Tennessee area at this time, any given listing has a 40% chance of selling during a listing period. In the “good old days” of 2005, the peak Seller’s market, a listing had a 70% chance of selling during a listing period.

The Million plus market had its peak in 1997 when a home priced over $1,000,000 had a 48% chance of selling during the listing period. In 2005, that was a 38% chance. Currently that price range has a 12% chance of selling. Sounds like a great move-up market opportunity to me!

Ready to start the process? Give me a call.

Posted by:  Frances Garner

If you can read this, you don't use a typical webbrowser that plays nice with CSS.
Please do not fill in anything here!

Leave a Reply