Nashville Real estate /rates

Long-term mortgage interest rates increased Wednesday, and the benchmark 10-year Treasury bond yield climbed to 3.81 percent.

The 30-year fixed-rate average rose to 5.74 percent, and the 15-year fixed rate gained to 5.31 percent. Meanwhile, the 1-year adjustable rate fell to 5.87 percent.

The 30-year Treasury bond yield edged up to 4.54 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average plunged 227.49 points, or 1.77 percent, finishing at 12,601.19. The Nasdaq lost 43.99 points, or 1.77 percent, closing at 2,492.26.

Now is a great time to buy real estate in Nashville, TN. If you have any questions regarding the Nashville real estate market, please give a call at 615-376-4500 or send us an email at jennifer@homesaroundnashville.com.

Nashville Real Estate market

Nashville real estate enjoys 'balanced market'

Article by Inman News

Home sales in the Nashville, Tenn., area were down in November from their year-earlier level but still posted their second-best sales rate for the month, the Greater Nashville Association of Realtors reported.

Realtors recorded 2,867 home closings in November, down 3.9 percent from the 2,985 closings in November 2005. Total sales figures include single-family, condos, multifamily, farms, land and lots. Year-to-date sales at 36,947 are 4 percent higher than the same period in 2005, according to GNAR.

The median price paid for a single-family home in November rose to $174,900 from $168,535 a year ago -- for a 3.8 percent increase. For condos, the median price jumped 16.7 percent during the period, rising from $137,000 to $159,900.

Inventory at the end of November totaled 17,175 listings, down slightly from October but up 21.5 percent from the same month a year earlier when 14,134 listings were active on the market. The average number of days on the market for a single-family residence held at 61 days in November.

"The current inventory level indicates that there is a good supply of choices available to home buyers," said Christie Wilson, 2006 president of the Greater Nashville Association of Realtors.

"Based on the number of closings during November, we have a supply of about six months, which indicates a balanced market for both buyers and sellers."