This month, our industry celebrates National Homeownership Month, where we promote the benefits of homeownership and our commitment to creating homeownership opportunities for all. REALTORS® across the country are actively working to ensure every American can achieve homeownership, the centerpiece to the American Dream and a pathway to economic prosperity.
When you own a home, you’re not just investing in the property, you’re investing in yourself and your family’s future. When you become a homeowner, you’re building financial security, augmenting your net worth and increasing wealth for generations to come.
If you’ve been considering becoming a homeowner during the past two years, you’ve likely seen countless headlines about the red-hot real estate market across the nation. For many, this narrative has created an impression that homeownership is unattainable. Here in Tennessee, particularly Nashville and its surrounding counties, the market has been especially competitive due to population growth and shrinking inventory. Combined, these factors have created increased home prices and with the rise in interest rates, we have seen buyer fatigue, especially for low and moderate-income earners.
However, there are signs of some relief on the horizon for potential homebuyers in the larger Nashville area. The May Home Sales Report recently released by Greater Nashville REALTORS® shows a staggering 47-percent increase in single-family inventory -- a sign of a shift happening in the market with more home choices, fewer multiple offers, and terms that won’t keep you up at night.
This shift is signaling a move in leverage to a more balanced market and that’s good news for Tennesseans who have been feeling the crunch over the last two years. If you are currently in the market or are considering buying a home, this new data could be a welcomed light at the end of what for many has been a difficult journey. With inventory on the rise, now might be a great time to call a trusted Realtor and step out from the sidelines and enjoy the lasting benefits that come with homeownership.
Whether you’re a first-time homebuyer, experienced homebuyer or looking to sell, you have countless real estate professionals at Greater Nashville REALTORS® who are committed to creating opportunities to achieve your goals.
Kevin Wilson is a 23-year resident of Davidson County and currently resides in East Nashville. Over the past 14 years, he has enjoyed a successful referral-based business and is the broker and partner at Pilkerton Realtors. He is passionate about association involvement and advocacy for the protection of private property rights. He is a veteran of the United States Navy and a graduate of Belmont University. Kevin currently serves as the Secretary/Treasurer of Greater Nashville REALTORS®.
