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Scott Pettus' Blog

By Scott Pettus | Agent in Nashville, TN

Nashville Home and Condo Prices Drop Slightly to Close 2011

Nashville-area home prices declined slightly in October and November compared to a year prior, according to a report released by CoreLogic today.

Home prices in the Nashville-Davidson-Murfreesboro-Franklin area, including distressed sales, decreased by 0.2 percent in October and by 0.5 percent in November.

Excluding distressed sales, prices climbed by 0.6 percent in October and rose by 1.1 percent in November.

Nationally, year-over-year home prices declined by 3.7 percent in October and fell by 4.3 percent in November.

"With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011," said Mark Fleming, chief economist for CoreLogic, in a press release. "Distressed sales continue to put downward pressure on prices and is a factor that must be addressed in 2012 for a housing recovery to become a reality."

If you or a friend have any questions or need help with any part of the real estate process, please feel free to give me a call at any time. I would be glad to help.

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Scott Pettus

Pilkerton Realtors - 615-714-0905

Source: Nashville Business Journal

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