HSH.com, a website that monitors the mortgage industry, has released their latest “Home price recovery index”. Their index uses the Federal Housing Finance Agency’s (FHFA) Home Price Index to determine how housing markets have fared during the US housing recovery.
The Nashville market has seen home prices rise to 28.17% higher than the pre-crash peak. That puts the market at #7 in the list of “10 metro areas that have recovered the most”. Denver tops the list with home prices at 53.61% over the previous peak. The Memphis market was among three that have just surpassed their previous peaks.
The trend reflects a challenge with inventory in the Nashville market. “It is definitely a seller’s market” says Rebecca Richards with EXIT Realty Garden Gate Team, “The shortage of houses for sale means homes that are priced right are moving quickly. Our focus is on providing exceptional marketing of our listings to help homeowners get the best price for their homes.”
You can view the complete list and more info at hsh.com.