Nashville is the nation’s second-strongest buyer’s market, after only Miami, and ranked ahead of three Texas markets: Houston, San Antonio and Austin. With more than two sellers for every buyer actively in the market, Nashville’s imbalance means buyers have plenty of homes to choose from, few competing offers to contend with and room to negotiate on price and other terms.
“Buyers are taking their time these days. There are a significant number of listings on the market, people are taking their time and waiting for the right one,” Aaron Glicken, a Redfin Principal agent in Nashville, said. “Buyers feel like they need to get a significant deal. They’re submitting low offers on homes that are already priced well for the market.”
In Nashville, new listings are up 9.4%, compared to a 0.1% increase nationwide, and the typical home spends 78 days in the market, compared to 49 days nationwide.