How is the housing market?

[sliverbox]

I wanted to add some hard cold data to this discussion. Here are the results of a broad search on the Nashville MLS.

I only searched for homes with a max price of 150,000, which I think is a reasonable price for younger families with average incomes.

Results of search for homes with 150k max pricing.

Nashville:1871

Murffesboro: 370

Brentwood: 138

Franklin: 6

Hendersonville:187

Now for homes in the 200k range. A little pricier... but if you've been good students and saved some money... you'll be fine.

Nashville: 3211

Brentwood: 203

Franklin: 16

Hendersonville: 302

So... there is a LOT of homes out there already, and this is in the SLOW season. Even better, Nashville is experiencing a slowdown as is the rest of the state. Spring will probably have inventory double this amount at least. So expect price reductions.

Tennessee is ranked No. 11 on the list as having one of the highest foreclosure rate. That's really surprising given that TN really never experienced anything close to a 'bubble'.

Here is some reports from Dataquick:

As you can see, homes went up 9.3% in appreciation, and down -2% the next Qtr. That's a massive change. Remember- this is only Q4, 2006. Spring has not arrived yet. I expect further reductions this year. As you can see, the upper end of the market is taking a massive hit but so are some of the lower end, which I suspect are homes in areas with crime issues.

DAVIDSON Median Price Sales Volume
Community Zip Code 4Q2006 % Chg* $/SqFt 4Q2006 % Chg*
All homes $164,900 9.3% $100 3,878 -2.1%
ANTIOCH 37013 $146,500 -0.4% $88 551 5.6%
GOODLETTSVILLE 37072 $159,505 6.3% $93 141 -4.7%
HERMITAGE 37076 $162,750 12.3% $98 213 4.9%
JOELTON 37080 $139,500 -3.2% $91 25 -30.6%
MADISON 37115 $121,700 8.7% $91 158 -26.9%
NASHVILLE 37201 $135,630 n/a n/a 24 2300.0%
NASHVILLE 37203 $200,950 -0.8% $132 47 -64.4%
NASHVILLE 37204 $281,250 3.6% $186 70 0.0%
NASHVILLE 37205 $340,000 -6.7% $165 118 -27.2%
NASHVILLE 37206 $135,948 10.5% $100 141 3.7%
NASHVILLE 37207 $107,750 14.6% $78 187 26.4%
NASHVILLE 37208 $83,000 -2.4% $74 70 25.0%
NASHVILLE 37209 $163,950 3.8% $113 188 -5.1%
NASHVILLE 37210 $114,000 9.4% $89 53 -5.4%
NASHVILLE 37211 $165,900 11.3% $99 413 -6.3%
NASHVILLE 37212 $301,320 14.8% $200 91 71.7%
NASHVILLE 37214 $147,000 12.2% $97 184 -14.8%
NASHVILLE 37215 $400,000 18.3% $184 126 -30.8%
NASHVILLE 37216 $130,000 10.7% $96 102 -22.7%
NASHVILLE 37217 $128,500 -4.2% $79 122 -19.2%
NASHVILLE 37218 $112,500 -16.2% $78 55 -21.4%
NASHVILLE 37219 $234,475 n/a $118 30 n/a
NASHVILLE 37220 $316,173 7.8% $148 33 -17.5%
NASHVILLE 37221 $220,500 12.3% $110 252 -20.0%
OLD HICKORY 37138 $136,000 1.5% $98 102 -5.6%
WHITES CREEK 37189 $170,216 19.1% $93 29 11.5%

RUTHERFORD Median Price Sales Volume
Community Zip Code 4Q2006 % Chg* $/SqFt 4Q2006 % Chg*
All homes $149,500 6.8% $94 1,632 3.0%
CHRISTIANA 37037 $145,000 11.5% $108 41 -32.8%
EAGLEVILLE 37060 $146,000 14.3% $65 11 -8.3%
LA VERGNE 37086 $137,900 6.1% $97 211 11.1%
LASCASSAS 37085 $184,900 19.3% $90 13 -38.1%
MILTON 37118 $200,000 n/a $94 7 n/a
MURFREESBORO 37127 $147,700 7.8% $84 82 -1.2%
MURFREESBORO 37128 $162,750 2.0% $96 266 3.1%
MURFREESBORO 37129 $153,900 7.6% $96 218 -6.8%
MURFREESBORO 37130 $141,900 11.0% $85 270 37.8%
ROCKVALE 37153 $155,700 4.1% $107 30 15.4%
SMYRNA 37167 $148,250 -0.2% $97 296 9.6%

WILLIAMSON Median Price Sales Volume
Community Zip Code 4Q2006 % Chg* $/SqFt 4Q2006 % Chg*
All homes $335,067 24.1% $137 1,319 -18.0%
ARRINGTON 37014 $500,236 61.6% $105 13 85.7%
BRENTWOOD 37027 $401,328 -7.1% $147 351 5.7%
COLLEGE GROVE 37046 $156,500 -2.2% $120 7 -22.2%
FAIRVIEW 37062 $177,250 11.9% $115 60 -26.8%
FRANKLIN 37064 $305,000 5.9% $136 295 -28.2%
FRANKLIN 37067 $372,195 13.1% $140 158 -18.6%
FRANKLIN 37069 $385,000 37.5% $156 107 -23.6%
NOLENSVILLE 37135 $318,185 16.7% $124 85 23.2%
THOMPSONS STATION 37179 $185,000 -11.6% $114 58 -42.6%


Sorry the data copied so sloppily. Hope that helps some of you.

[HDL]

This is the type of info that people need to make an informative decision ! Do you know where I can find 'stats' or 'graphs' to show how many homes were for sale at this time 2006/2005/2004 etc? I already use DQ News, but so far have found the info so-so .

Thanks and keep up the great posts !