NASHVILLE, Tenn. (WKRN) – It’s no secret that Nashville’s housing market is hot, and according to Zillow, it’s the top housing market for 2017.
In January, Zillow predicted Nashville would be the fastest growing market this year, and they say they were right on.
“We’re seeing a whopping 13 percent annual appreciation on home values right now, which is in line with markets like Seattle, another really hot market right now, Dallas, Tampa,” explained Svenja Gudell, Zillow Chief Economist.
And it doesn’t look like the trend will change any time soon.
“We’ll still see very healthy home value appreciation into the next year and beyond simply driven by fundamentals like very strong demand for housing and very limited supply,” said Gudell.
It’s a seller’s market, so if you’re thinking about selling your home, Gudell has three things you need to know.
“Know the market and what type of neighborhood you’re in and what your local market looks like, having an agent help you in that process to sell your home is very useful, or any sort of expert that can guide you along the way, and then, just do your research in general; you don’t want to overprice, but you don’t want to underprice, so finding that just right is certainly key,” she told News 2.
As far as what Nashville can expect in the future, Gudell says it’ll be fewer homes for sale and strong demand. That will continue to lead to bidding wars, and a housing market that will continue to do well.
The Zillow prediction is based home value appreciation, unemployment rates and income growth.