Escalating Home Prices In Nashville Making It Very Difficult For First Time Buyers

Rapidly rising home prices in Nashville are helping sellers get maximum value for their properties, but the trend is proving to be a nightmare for Tennessee first time buyers. Housing prices have continued to set new records in Nashville, with the September, 2015 median price at $236,866, up more than $25,000 over the same month last year.

Nashville Public Radio reports:

Home prices in the Nashville area continued growing in September: The median sale price was $236,866, according to the Greater Nashville Association of Realtors — up 12 percent over last year.

This real estate market can intimidate first-timers, says 28-year-old Tres Wittum.

“Renting is so much more accommodating and easy in the short-term,” he says.

But Wittum realized a couple of years ago that it made more financial sense to buy, rather than rent long-term. He also realized prices kept rising.

“You’re thinking, ‘If I don’t jump on something before long, it’s going to be so outrageous that I can’t afford anything.’ “

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