MURFREESBORO, Tenn. — Tennessee’s housing market continued a solid showing in the fourth
quarter of 2016, according to the latest statewide quarterly report from the
MTSU Business and Economic Research Center.
Compared to the third quarter last year, the number of new single-family
construction permits was up 4 percent, in contrast to an 8 percent drop in
multi-family permits.
“Home sales are considerably higher,” noted BERC Director Murat Arik. “Inventories
are down and closings up in the Knoxville, Memphis and Nashville areas.”
Other report highlights include:
- Housing
prices over the year are up for all 10 metro areas tracked and the state
as a whole.
- Nashville
area housing prices rose 9.9 percent for the quarter, the largest increase
statewide.
- The
percent increase in housing prices in Tennessee versus the United States
continues to widen as it has for several quarters.
- Nearly
every area tracked by the report has shown positive growth since the
fourth quarter of 2015.
See the full latest and previous reports with detailed breakdowns and
summaries at http://mtsu.edu/berc/housing.php.
BERC’s report is funded by Tennessee Housing Development Agency. The quarterly
report offers an overview of the state's economy as it relates to the housing
market and includes data on employment, housing construction, rental vacancy
rates, real estate transactions and mortgages, home sales and prices,
delinquencies and foreclosures.
The Business and Economic Research Center operates under the Jennings A.
Jones College of Business at MTSU. For more information, visit http://mtsu.edu/berc/.
THDA publishes research on affordable housing, its programs and
beneficiaries. THDA also coordinates state planning for housing through the
Consolidated Planning process, annual Action Plans, and annual Performance
Reports. See http://thda.org/research-planning/research-planning for more information.
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