Healthy job market attracts home buyers

With numerous opportunities emerging due to the influx of new companies into West Tennessee, the topic of housing has gained significant traction.

Across the nation, mortgage rates are experiencing an increase due to low inventory levels.

However, approximately 40% of the country is observing a certain degree of price decline, as stated by Lawrence Yun, the Chief Economist of the National Association of Realtors.

Unfortunately, Tennessee is not included in these statistics, as our strong job market is attracting consumers and contributing to the upward trajectory of prices.

While rising prices might be a concern for residents in Tennessee, those outside the state might view the prices as more appealing.

“In West Tennessee, home prices remain below $300,000, with the median price slightly below that mark. While long-time residents may perceive this as high, one must consider the housing market conditions in Nashville and other major cities nationwide. West Tennessee remains a very affordable market,” Yun said.

Yun also emphasized that individuals seeking a new home should consult trustworthy local realtors.

These professionals have access to the broadest range of available inventory listings and can adeptly navigate the latest fluctuations in the housing market.

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