Latest news with #GreaterNashvilleRealtors
Axios
13-05-2025
- Business
- Axios
Realtors back Mayor O'Connell on housing plan
Nashville's Realtor association will work with the city on its new Unified Housing Strategy, the organization announced last week. Why it matters: Mayor Freddie O'Connell's administration needs private sector buy-in to successfully implement the 10-year strategy to address Nashville's housing crisis. Catch up quick: Nashville needs 90,000 new homes over the next decade to keep pace with its surging growth, according to the Unified Housing Strategy report released last month. The report aims to align all Metro agencies working on housing issues and identify strategies to ease the affordability crisis. That followed the Planning Department's release of the Housing and Infrastructure Study earlier this year. That report, which was commissioned by the Metro Council, examined policy changes and investments that could help spur more housing. What they're saying:"We're encouraged to see Metro aligning policy, planning, and community input in ways that can help expand access to homeownership and housing security," Greater Nashville Realtors president Collyn Wainwright said in a press release. In addition to the Realtor association, the Community Foundation of Middle Tennessee conveyed its support for the plan after it was announced. Community Foundation CEO Hal Cato said the nonprofit organization would "lean in with our Metro partners to help create a true community coalition united by a shared determination to make an impact on this issue that is foundational to our well-being as a community."
Yahoo
15-03-2025
- Business
- Yahoo
Report finds housing markets in several Middle TN counties among least vulnerable to problems
NASHVILLE, Tenn. (WKRN) — A report found housing markets in several Middle Tennessee counties were the most resilient to potential problems. Though housing markets in Illinois, California, New York and Florida were found to be the most exposed to potential fallbacks, a Special Housing Risk Report from Attom — a real estate analytics firm — found Williamson, Davidson and Rutherford County markets to be among the least at-risk. Data from Greater Nashville Realtors revealed a 5% dip in closings compared to the same time last year, which owner of One Stop Realty and Auction Brian Stewart attributed to multiple reasons. Bill targets big real estate investors buying homes to rent in Tennessee 'Definitely a year where we experienced higher interest rates, inflation was up, the election has a lot to do with people not wanting to buy or sell,' Stewart, who is also 2025 Sumner Realtors President, said. However, you won't find Stewart losing sleep over the situation. In fact, he said as of publication, Sumner Realtors has seen a roughly 4% increase in homes under contract. 'We have a Ford Ice Center that's going to be coming in as part of the Predators Package… There's so much around Metropolitan Nashville to offer that everybody can participate in. We have great parks. We have great schools,' Steward added. 'I think the numbers will still trend to the positive for growth and activity in the real estate market here as well. In addition to some Middle Tennessee markets, areas in Washington, D.C. and Richmond, Virginia were also found to be least likely to decline. The report analyzed factors including affordability, foreclosures, and underwater mortgages. '[In] other areas, the entry point to homeownership is so much higher and then you have higher homeowners' insurance rates in those parts of the country. California, obviously because of the fires, Florida because of the hurricanes,' said Debra Beagle, managing broker and co-owner of the Ashton Real Estate Group of REMAX Advantage. In the coming months and years, Middle Tennessee realtors expect to see a more balanced, stable market. ⏩ 'It's a good time to buy because there are choices and there's opportunity to get closing costs paid for, some seller concessions to buy the interest rate down,' Beagle added. 'Again, Nashville's a great place — over the last two decades, when the rest of the country starts experiencing some pain points, we don't feel it as bad as they do.' Despite the market dip, several realtors said they'd noticed an uptick in interest from buyers over the last several weeks and expect to see more activity as spring approaches. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
