Monday, July 23, 2018 09:00 AM

NASHVILLE HOME PRICES SOARING AS TEMPERATURES RISE - THE TENNESSEAN

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For sale sign(Photo: Getty Images)

Nashville's smoldering real estate market is getting even hotter this summer.

Summertime is typically the most expensive season to purchase homes, and this year is no exception.

Buyers paid an average of $320,000 for a house in June, accordingto a RE/MAX[3] analysis of Multiple Listing Service[4] data. That price is$15,000 more than the average listed sale in May 2018 and $20,000 more than the average in June 2017.

Sales also jumped from3,130 homes in June compared to 2,904in May, according to the RE/MAX analysis.

Prices are higher in the summer because it is the preferred time to move for families, saidFrank Nothaft, chief economist of CoreLogic, which specializes in real-estate data analysis.

"That reflects when families prefer to move outside the academic school year," Nothaft said."Homes that tend to sell during late spring and summer tend to be a bit ...

News source: GOOGLE NEWS

See also: Steven Enrich