Aug 18, 2022 - News

Nashville is a housing inventory growth leader

Illustration of an upward pointing arrow made from the top of a house
Illustration: Annelise Capossela/Axios

Nashville's housing inventory is growing faster than almost anywhere else in the country as home sales cool.

  • Music City ranked second in a national review of year-over-year inventory increases, according to the RE/MAX National Housing Report.

Why it matters: Low inventory was one of the factors putting extreme pressure on Nashville homebuyers over the last year. More options on the market give buyers breathing room and leverage that has been missing for a while.

By the numbers: The housing supply in July was 5,913, according to RE/MAX, a jump of more than 125% from the same time last year.

  • Nationally, Nashville's inventory growth was second only to Raleigh, North Carolina.

What they're saying: "The overwhelming positives of current conditions are choices and protections for buyers," said Nashville realtor Jeff Checko, director of relocation at The Ashton Real Estate Group of RE/MAX Advantage.

  • "Buyers were necessarily at risk in the recent past while having to waive typical protections like inspection and financing contingencies," Checko said in a statement.
  • "Thankfully that's not as common currently."
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