RED REPORT – Year End 2019
Middle TN Home/Condo Sales Report Year End 2019 Issue.
The Red Forecast
2019 ended very strong with a 6% increase over 2018 closings and prices. I think we all expected a modest
increase in prices, but a 6% increase in closings is a larger increase than most expected. If the 4th Quarter of 2019 is any indicator of 2020, we should expect a strong start to 2020 and a busy Spring selling season ahead. Listing Inventories and Lot Supply at reasonable prices will be an issue once again in 2020. Even if the economy has a few bumps, the supply can’t keep up with the demand. Assuming nothing unexpected happens politically, I would expect 2020 to be fairly level to 2019 with prices continuing to rise modestly. Happy New Year!!
Reminder:
The monthly report is just a simple comparison of the most recent completed month to the same month last year. The quarterly reports will be a more detailed report looking at year to date, same period year to year and quarter to quarter comparisons. We are also including all single family and condo sales in all our reports going forward. The quarterly reports tell a better story of the the big picture of what’s really going on in the market. The monthly look if just snapshot of a small window. The monthly and quarterly Red reports include Davidson, Rutherford, Williamson and Wilson Counties.
Steven Dotson
President
Red Realty
1574 Medical Center Pkwy
(suite 202)
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733
