Home Sales Looking Up

December 1, 2009

Tennessee Housing Market, a publication of MTSU’s Business and Economic Research Center (BERC), reports that housing sales in Tennessee are looking up. According to the latest edition, third-quarter single-family home construction and sales of homes for the Nashville/Murfreesboro, Memphis and Knoxville areas rose compared to the second quarter. BERC Director Dr. David Penn says both sales and construction of single-family homes increased during the quarter, benefitting from low mortgage rates, the first-time buyers’ income tax credit and high HFA qualifying thresholds. He says achieving sustained improvement in the housing market will be difficult without job and income increases.

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