A week or so ago, we shared some homes.com research on the hottest real estate markets of 2018, including the fact that the Nashville housing market sat right near the top, at No. 3.
Question asked and answered, if you’re cool with taking economic data analyst Matthew Speakman’s predictions. In a rundown of the “Hottest U.S. Markets for 2019,” Speakman and his colleagues at Zillow considered the 50 largest U.S. metro areas, and compared home value and rent forecasts, income and population growth data from the U.S. Census Bureau, unemployment statistics and job openings, and crunched all the numbers to come up with what looked like promising places to own or buy a home in the coming year.
So how does the Nashville real estate market look?
If you’ve been bracing yourself for a lull in the Nashville housing market, this data seems to indicate that one isn’t forthcoming.
The Top 10 “2019 hottest markets”: include San Jose, California, at the top once again, San Diego sitting right at No. 10, and there above it at No. 8: Nashville, Tennessee.
What sitting near the top of that list means: Indicators are pointing toward home prices in Nashville continuing to rise, alongside job opportunities, income and population growth.
Does this mean it’s getting harder to buy a home in Nashville?
In our experience talking to prospective homebuyers, studies like this can feel a little intimidating or disheartening — like competition just keeps getting stiffer, and home prices keep getting less manageable.
Professional/personal take: Nashville is by no means the toughest real estate market among those “hot” markets — even nearby Atlanta has faster-rising home prices, and Dallas, with a population that’s comparable to combined Metro Nashville, is growing even faster than our “It City.”
Nashville’s also been playing inventory catch-up for years, and we’re finally seeing the results of that labor, with significantly increased housing inventory, from condos to single-family homes.
Put that all together, and it points toward 2019 actually being a slightly better environment for Nashville homebuyers — more home listings to choose from, price increases that are leveling out a bit, and a less frenzied pace, while the job market and cultural vibrancy continue to shine.
You can read the full report on the “Hottest U.S. Markets for 2019” here, and if you have any questions about what buying a home in Nashville might look like for you, specifically, we’re always happy to help. Reach ACRE here.
And to get a look at what the Nashville real estate market looks like on the ground, check out some Nashville homes for sale here.