MTSU report: State housing market shows mix of progress, emerging challenges

MURFREESBORO, Tenn. — With continued rising home prices and an emerging trend of fewer closings in some areas of the state during the second quarter of the year, Tennessee’s housing market presents mixed signals heading into the fall, according to the latest statewide report from Middle Tennessee State University.“The housing market across Tennessee presents a complex and evolving landscape marked by regional disparities and mixed signals, said Murat Arik, director of the MTSU Business and Economic Research Center in the Jones College of Business and author of its statewide report for the second quarter of 2024.“While the state exhibits stronger house price growth than the national average — with a 5.6% annual increase — dynamics vary significantly among its metropolitan areas.”As an example, Arik cited rising inventory levels across key Metropolitan Statistical Areas, or MSAs, such as Nashville and Memphis, “suggesting a cooling in some markets,” while Knoxville sees strong…..

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