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Nashville home market strongly favors buyers as seller surplus grows
In June, Nashville had 129% more sellers than buyers, while new listings rose 9.4% and the typical home stayed on market 78 days.
Nashville has become the nation’s second-strongest buyer’s market, according to Redfin News, with a sizable gap between supply and demand. In June, there were 129% more home sellers than buyers actively in the market, a level that implies more than two sellers for every buyer.
That imbalance gives buyers more choice and reduces the pressure of competing offers, Redfin said. The outlet also noted that new listings in Nashville rose 9.4% compared with a 0.1% increase nationwide, and the typical home spent 78 days on the market versus 49 days across the country.
Redfin principal agents Aaron Glicken and Kristin Sanchez attributed the shift to growing inventory and a cooldown in conditions that previously supported rapid price gains. They pointed to years of steady homebuilding and faster home-price appreciation, along with higher mortgage rates, which have reduced demand, while more owners are entering the market to complete life changes.
Sanchez also said homeowners with very low mortgage rates have delayed moving, but those events can no longer be postponed, leading to more listings even as rates remain higher. Glicken added that some buyers are submitting low offers on homes already priced well, prompting sellers to reconsider their strategy, including using Redfin Early Access to start marketing before a listing officially debuts.