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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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Nashville, Tenn.
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The tempo is upbeat in the Music City, which is another market not susceptible to a housing bubble, according to John Burns' Housing Cycle Barometer. Construction levels remained high in 2006 with some overbuilding taking place.
4th quarter 2006: $150,000
Median price 4th qtr 2005: $145,000
% change: +3.4%
Projected avg price end of 2007: $214,280
Current avg 30-year fixed rate: 5.76%
Current avg 5/1 ARM rate 5.55%
*Affordability rating: 4.4
Foreclosures in Jan. 2006:
(1 for every 871 households)
635
Foreclosures in Jan. 2007:
(1 for every 1,293 households)
428
Change in foreclosures: -32.60%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $170,900
Jan. '06: 30-yr fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr fixed rate at year's high 6.80%
Dec. '06: Median price rises 7.6% to $184,000
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 3.99%
15 yr fixed mtg 3.09%
5/1 ARM 3.20%
Rates may include points
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