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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