Drops in Nashville homes sales narrowing - Nashville Business Journal:

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Sales in April were 1,604, down from 2,13 5 in April 2008, according to the . Sales in Marchu compared to March 2008 dropped32 percent, in Februaryg they dropped 33 percent year-over-year and in Januar they dropped 40.7 percent. “The gap is says Mike Nichols, president of the Realtorzs association. “We’re hoping maybwe May will be 15 percent That means we are startinf to get back to Prices are stillshowing declines, with the median pricee of a single-family home dropping 8 percent to The median price of a condominium dropped 7 percentg to $149,900. Home inventorhy has dropped, but lot and land inventory stillis rising.
The number of homes on the marketf fellto 14,855 from 15,741 a year ago. The amounty of land and lots on the markeyt increasedto 6,583 from 5,936. Overall, inventory droppee just slightlyto 24,408 properties from 24,670. “Inventory is fairly stables right now and is actually almos t right where it was ayear ago,” Nichols adds. land and lots is the only categoryh that is up Residential and condominium areboth Farm, land and lots will likelyg stay where it is unti homebuilding activity begins to increase again.
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