Nashville is one of the top housing markets for buyers
Home sellers in Nashville outnumber buyers almost two to one, according to the latest estimates from Redfin.
Why it matters: It's a buyer's market in real estate, if you can afford it. The swell of options on the market is a major reversal from just a few years ago, when homebuyers were desperate to find a place to live, sending prices into the stratosphere.
The big picture: The trend is happening nationwide, but Nashville provides an even starker example of the shift. Middle Tennessee is one of the top 10 buyers markets in the country, according to Redfin.
By the numbers: There were 90% more sellers than buyers in the Nashville area in April, per the data. The national gap is around 34%.
The trend toward more sellers in the market is the strongest since Redfin started tracking the metric in 2013.
Flashback: Just two years ago, the dynamic was flipped, with buyers outnumbering sellers.
Between the lines: A buyers market offers shoppers more options and leverage to negotiate on price. Indeed, nearly two-thirds of homes in the Nashville area sold under asking price in the first part of the year, per Redfin.
Reality check: Buying a home is still far out of reach for many Nashvillians. A report released earlier this year found that buyers had to make $120,000 annually in order to afford the median-priced home in Middle Tennessee.
A one-two punch of still high home prices and high mortgage rates has made it hard for buyers, especially first-timers, to find a place they can afford.
Add to that the extreme economic uncertainty of 2025, when tariff news, layoff fears and layoffs have tamped down buyer demand.
State of play: The median price for a single-family home in the Nashville area in April was $467,178, which is about even with the price a year ago, according to Redfin.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNET
6 hours ago
- CNET
Best Homebuying Apps for 2025
CNET staff -- not advertisers, partners or business interests -- determine how we review products and services. If you buy through our links, we may earn a commission. Finding the right home isn't always fun. According to research from Redfin, more than half of recent homebuyers said that buying a home was more stressful than dating or planning a wedding. Mobile house-hunting apps make the homebuying search a whole lot easier. If you're planning to start checking out homes from your smartphone, here are some smart options to consider. Use them to familiarize yourself with the local market trends and get a sense of what you can afford. Then, find an agent who can listen to your needs and help you sort out the real gems versus the listings that should be overlooked. Best homebuying apps Photo Gallery 1/1 Best overall Redfin Redfin has all the standard features you should expect in a homebuying app — great photographs, calculators to estimate your monthly payments and the ability to schedule a tour. It also has a unique tool: a comprehensive risk factor report. In collaboration with First Street Foundation, Redfin helps buyers understand flooding potential, air quality in the area, excessive heat and potential threats from wind. As more homeowners weigh weather-related concerns, this can be a helpful gauge of whether your investment will come with high insurance costs and maintenance expenses to protect your property. There aren't really any drawbacks to Redfin, although it's important to note that the app's 'Start an offer' tool doesn't help you submit an offer instantly. Instead, it will send your note to the Redfin agent listed on the same page. How it stacks up Listings : 5 out of 5 for urban areas (the data covers approximately 80% of the country, so you will be out of luck in certain parts of the country) : 5 out of 5 for urban areas (the data covers approximately 80% of the country, so you will be out of luck in certain parts of the country) Photos : 5 out of 5 (also includes video tours for some properties) : 5 out of 5 (also includes video tours for some properties) Map : 5 out of 5 : 5 out of 5 Calculator : 5 out of 5 : 5 out of 5 Historical information : 4 out of 5 : 4 out of 5 Future forecast: 5 out of 5 (risk Factor report for climate-related issues) ... Show more Photo Gallery 1/1 Best for finding down-payment assistance Zillow Zillow's listings have everything you'll want to know: how long the home has been on the market, how its estimated value has fluctuated over the past few years, how the area's schools stack up and how long it'll take you to get to work each day. The feature we really love here, though, is a quick way to check if you might be eligible for down-payment assistance programs by answering questions about your income, profession, etc. One notable drawback is a lack of public tax history. Our review of a number of listings on Zillow had a 'tax history is unavailable' disclaimer, while property tax estimates were included on Redfin and a number of other apps on this list. How it stacks up Listings : 5 out of 5 (more than 135 million homes) : 5 out of 5 (more than 135 million homes) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 : 5 out of 5 Calculator : 5 out of 5 : 5 out of 5 Historical information : 2 out of 5 (no public tax history on many listings) : 2 out of 5 (no public tax history on many listings) Future forecast: 1 out of 5 (Zillow's Zestimate tool is a helpful tracker on market value trending patterns, but there is no data about climate-related issues) ... Show more Photo Gallery 1/1 Best for understanding noise levels Home isn't just where the heart is: It's also where you sleep. noise map feature will help you get a sense of whether your family will need earplugs. It's a unique tool that sets this apart from most of the other homebuying apps on our list ( has a 'Sound Score' tool but not a map). app also includes a flood risk tool similar to part of Redfin's report, although it's not as robust. One big selling point of is a combination of three different property value estimates, which provides a holistic look at how different providers view fair market value. How it stacks up Listings : 5 out of 5 (no data available on overall database size, but performs well in urban areas) : 5 out of 5 (no data available on overall database size, but performs well in urban areas) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 : 5 out of 5 Calculator : 3 out of 5 ('What can you buy?' takes you to a web-based lender inquiry) : 3 out of 5 ('What can you buy?' takes you to a web-based lender inquiry) Historical information : 4 out of 5 : 4 out of 5 Future forecast: 4 out of 5 ... Show more Photo Gallery 1/1 Best for getting to know the neighborhood Trulia Most homebuying apps include some data on how easy it is to access public transit and how walkable/bikeable a neighborhood is, but Trulia takes that local expertise to a new level. How dog-friendly is the area? Are the streets well-lit? Will you feel safe walking alone after dark? Do people decorate for the holidays? These are just a few of the questions you'll know based on other Trulia users' feedback. If part of your home search involves knowing how friendly your neighbors are, this is a good place to start. How it stacks up Listings : 5 out of 5 (Trulia is owned by Zillow, so the database should be identical) : 5 out of 5 (Trulia is owned by Zillow, so the database should be identical) Photos : 5 out of 5 : 5 out of 5 Map : 5 out of 5 (also links to a 'shop and eat' map that displays retail and dining in the area) : 5 out of 5 (also links to a 'shop and eat' map that displays retail and dining in the area) Calculator : 5 out of 5 : 5 out of 5 Historical information : 3 out of 5 : 3 out of 5 Future forecast: 1 out of 5 ... Show more Photo Gallery 1/1 Best for behind-the-scenes information has a mile-long list of details about the property and its history. Listings include deed history and mortgage history (what a current owner still owes and the rate they're paying). There's also a combination of information about schools in the area from Niche and GreatSchools that helps you understand how much teachers earn, where most high school graduates go on to college and more. One note: If you're an Android user, you're likely better off with another option on this list. While we found the iOs experience good (minus the lack of pictures), Android users have shared a lot of complaints about the app. How it stacks up Listings : 5 out of 5 : 5 out of 5 Photos : 5 out of 5 (just swipe or click; there isn't a call-out on the number of photos that you'll see on other apps, which can make you assume there is only one image) : 5 out of 5 (just swipe or click; there isn't a call-out on the number of photos that you'll see on other apps, which can make you assume there is only one image) Map : 5 out of 5 : 5 out of 5 Calculator : 3 out of 5 (some other apps have a simple bar to adjust your down payment and other variables, but this app requires specific inputs) : 3 out of 5 (some other apps have a simple bar to adjust your down payment and other variables, but this app requires specific inputs) Historical information : 5 out of 5 : 5 out of 5 Future forecast: 1 out of 5 ... Show more Photo Gallery 1/1 Best for finding fixer-uppers foreclosure listings. While they won't all be in rough shape, it's safe to assume that someone who stopped paying the mortgage also stopped caring for the home the way they should. app is solely geared toward helping you find upcoming auctions so you can add them to your calendar. There's also a remote bid tool if you create an account (you can start to browse listings without sharing any of your data, which we think is a big perk). If you're interested in turning the property into a rental for some passive income, the app offers rental estimates, too. How it stacks up Listings/database size : N/A (More than 15,000 auctions per year in all 50 states) : N/A (More than 15,000 auctions per year in all 50 states) Photos : 2 out of 5 (although, it's important to note that most distressed property listings don't have many photos) : 2 out of 5 (although, it's important to note that most distressed property listings don't have many photos) Map : 5 out of 5 : 5 out of 5 Calculator : N/A (most listings are cash only) : N/A (most listings are cash only) Historical information : 5 out of 5 : 5 out of 5 Future forecast: 5 out of 5 (includes rental estimates) ... Show more Photo Gallery 1/1 Best for collaborating with your agent Zenlist Zenlist doesn't have the mass brand awareness of Zillow or Redfin, and that's because it's not available to everyone. This is an invite-only app, so you'll need to be working with an agent who uses it first. If you do, though, this is a fantastic tool for someone who is a bit further along in the home search process. Instead of just browsing, you and your agent can trade notes in the app, and you can flag listings you really love. Plus, you'll be one of the first to know when a new home hits the market, as Zenlist's systems update every 2 minutes. The only drawback is that Zenlist is currently limited to just under 20 metro areas. So, if you're looking outside of those locations, this app probably isn't your best bet. How it stacks up This tool is unique due to its closed-door, invitation-only model. Given its limited availability, we are not evaluating it in comparison with other apps. However, those who use it rate it highly. ... Show more Photo Gallery 1/1 Best for buying without an agent Opendoor If you want to do more than browse for homes on your phone, your best bet is Opendoor. The company is an iBuyer, meaning it buys homes from sellers to resell them for a profit to individuals. If Opendoor has bought the property, you can schedule a self-tour and access the property without the help of an agent. And while most homebuying apps are designed to connect you with an agent, Opendoor's listings include a 'Buy Now' button that allows you to submit an offer straight from your phone. The biggest drawback for Opendoor is the small selection. The company only operates in select metro areas, though you'll still be able to view other properties that are listed on the MLS (multiple listing service). You can get preapproved for a mortgage via a program that automatically syncs with the lending company, Lower, but the app is limited if you're looking to take the DIY route. Another downside: You have to create an account to browse listings, so you'll need to remember to delete your account if you don't want your data floating around. Overall, Opendoor performs considerably worse than other apps, but the self-tour and ability to buy within the app make this uniquely positioned for certain types of buyers. How it stacks up Listings : 2 out of 5 : 2 out of 5 Photos : 3 out of 5 : 3 out of 5 Map : 5 out of 5 : 5 out of 5 Calculator : 1 out of 5 (all figures are prepopulated examples of financing with Lower) : 1 out of 5 (all figures are prepopulated examples of financing with Lower) Historical information : 1 out of 5 : 1 out of 5 Future forecast: 1 out of 5 ... Show more FAQs Can I use an app to buy a home? Yes. Some apps like Opendoor will allow you to submit an offer directly within the app, but there are some limitations. Most homebuying apps are designed to help you browse, not buy. Buying a home is one of the biggest transactions you'll make. A real estate agent who knows the ins and outs of the market can help you navigate the complexities of contracts, home inspections and closing dates. What's the most important feature of a homebuying app? The adage 'a picture is worth a thousand words' rings true with homebuying apps: 85% of buyers say that photos are the most useful feature for browsing homes. It's the easiest way to tell if you should invest the time and energy to go see the property in person. Can I buy a house without seeing it in person? Yes. It's called buying a house 'sight unseen,' and it happens a lot when a market is especially competitive. According to Redfin , 63% of buyers made offers sight unseen in 2020. However, there are plenty of risks involved. Online photos can mask issues lurking beneath the surface. Make sure you hire a professional home inspector to take a look at the property. How many houses should I see before making an offer? There's no right or wrong answer when it comes to the number of homes you should see before submitting an offer to buy one. You might stumble upon your dream home with the first property you see, or you might browse online and attend dozens of open houses over multiple months. According to the most recent data from the National Association of Realtors , most buyers see five homes before buying one. How we test homebuying apps We used these apps just like you would as a prospective homebuyer. We scoured listings, scrolled through photos, zoomed in and out on their maps and crunched the numbers on their calculators to determine how helpful homebuying apps really can be. Since a lot of homebuying apps run together, we paid extra attention to unique features that set them apart for specific goals of gathering information about properties. We also considered reviews from customers on both the Apple and Google Play stores for mobile phone versions. It's important to note that some of these apps didn't fare that well for their tablet version, although you're likely better off using your phone anyway. Some homebuying apps include augmented reality location-based tools to help as you're walking neighborhoods.
CNBC
7 hours ago
- CNBC
Is it smart to buy a home right now? The U.S. housing market is a 'mixed bag,' broker says
For potential homebuyers, the U.S. housing market is hard to read right now. Affordability remains an obstacle, with elevated mortgage rates and a median home price of $442,000 — up 0.9% from a year ago, according to Redfin data. However, inventory is rising in many markets, especially in the South, giving buyers more leverage to negotiate prices. Redfin expects home prices to decline 1% year over year by the end of 2025, a forecast that aligns with Zillow's projected 1.4% drop over the same period. Overall, the market is "a mixed bag," says Ben Jacobs, a real estate broker with Douglas Elliman. "On one hand, we're seeing more inventory and seller concessions, which offer some breathing room for buyers. On the other, mortgage rates aren't expected to drop significantly anytime soon, which continues to impact affordability." Most major forecasts expect 30-year fixed mortgage rates — currently around 6.85% — to stay above 6% throughout the year, consistent with where they've been so far in 2025: Tariffs are adding to the uncertainty. Tariffs on building materials are expected to drive construction costs higher, which could slow new homebuilding and add upward pressure to prices. "It's a catch-22 for homebuyers," Chen Zhao, Redfin's head of economics research, wrote in a May statement. "Mortgage rates are unlikely to fall unless all of the new tariffs are eliminated, or if the country falls into a fairly severe recession — which would cut housing budgets for many Americans." Buyers have more negotiating power than they did a year ago, due to more inventory on the market, fewer bidding wars and a growing share of sellers offering concessions. Price reductions are more common. In May 2025, about 22% of listings had price cuts, a year-over-year increase of roughly five percentage points, according to Redfin's most recent data. Sellers are increasingly willing to offer other incentives, too. In April, Redfin reported that sellers gave concessions in 44% of home sales — about 10 percentage points higher than last summer. These concessions are separate from price reductions and include money toward repairs, closing costs or mortgage-rate buydowns. Housing inventory is improving in several markets. States such as Texas, Florida, Tennessee and Colorado now have more homes for sale than they did before the Covid-19 pandemic, according to Now is "still a good time to buy, especially for well-prepared buyers who find a home that fits their long-term needs and can negotiate favorable terms," says Jacobs. He notes the risk that "new tariffs on building materials could push prices higher again, particularly for new construction." "This summer presents a real opportunity for serious buyers," says Nancy Batchelor, vice president at real estate firm Compass. But with a still-shifting market, she cautions that buyers should be prepared and realistic about what they can comfortably afford. "Timing the market perfectly is nearly impossible," she says, but finding the right home at a price and payment that fits your budget "is always a smart move."
Yahoo
11 hours ago
- Yahoo
'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Power up the flux capacitor, climb aboard your DeLorean and prepare to travel back to 2008 because recent headlines concerning a real estate market crash seem very familiar. The main differences between today's imploding market and that of 17 years ago were that in '08, bad mortgages and over-inflated house prices were the issue. Today, high interest rates, soaring insurance costs, economic fears, and stubborn inflation are the primary problems. The results, however, are pretty similar — much of the U.S. is becoming a buyer's market, according to a recent report by Redfin (NASDAQ:RDFN). Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – The numbers are shocking. In April, 56,000 home purchase contracts were canceled — just over 14% of all pending transactions, Redfin reports. Not since the early days of the pandemic have so many deals failed to get to the finish line. 'We see a lot of deals collapsing, especially in major markets like Las Vegas and Phoenix,' Joel Efosa, the CEO of Fire Cash Buyer, told the Daily Mail.' It's especially first-time buyers. Some are losing their jobs, others simply no longer qualify for loans because they don't make enough or have good credit.' He noted: 'Realtors are asking sellers to accept the truth — the market is crashing before our eyes.' Prices have fallen year-over-year from April to the same time last year in 20 major metro areas, Zillow's Home Value Index shows. Most of the declines have occurred in Sunbelt states, such as Arizona, Texas, Florida, and Louisiana, which have followed a similar pattern to 2008. Trending: This Jeff Bezos-backed startup will allow you to . However, Zillow reports that the Northeast has yet to tip into a buyer's market, where sellers still have the upper hand in cities like Buffalo, New York; Boston; Hartford, Connecticut; and Providence, Rhode Island. In these markets, there are at least 10 engaged home shoppers for every listed home. The ongoing discussion of tariffs and increasing concerns about higher prices for food, furniture, construction, cars, and more are keeping potential buyers on the sidelines. 'They're hearing the words' tariffs' and 'recession,' and it's making them nervous that if they buy now, the value of their home will decline, and they don't know whether mortgage rates will go up or down,' Desiree Bourgeois, a Redfin realtor in Detroit told the Daily Mail, 'There's a lot of uncertainty out there, with buyers trying to understand how their purchase would fit into their personal finances and the broader economic puzzle.'Florida has proven to be a bellwether state for the housing market. In 2008, the oversupply of homes, many of which were purchased by unqualified buyers with subprime mortgages, led to massive foreclosures. Now, a halt to inbound migration, coupled with extreme weather and soaring costs associated with insurance and homeowners' fees, has led to an abundance of homes sitting on the market. Current listings in Miami-Dade County, which includes one of the most expensive metro markets in Florida and the country, rose by over 42 percent in the first week of June compared top the same time last year, according to The MIAMI Association of Realtors. 'If these buildings are subject to reserve requirements, buyers want to make sure they're getting into a situation where the condos have their act together,' Brad O'Connor, chief economist at trade group Florida Realtors, told The Wall Street Journal. 'Whether it's the lenders or the buyers themselves, we've seen a slowdown in condo demands.' Read Next: With Point, you can , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Image: Shutterstock This article 'Market Crashing Before Our Eyes': Buyers Are Backing Out Of Deals In Record Numbers Amid Relentlessly High Interest Rates originally appeared on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
