Year End Totals 2021 vs 2020
Closing Volume: +3.6% higher @ 34,835 closings for 2021
Average Closed Prices: + 21% ($522,592)
December 2021 vs 2020
Closing Volume: -11% lower
Average Closed Prices: + 20% ($548,793)
Pending Volume: +3% higher
Inventory: -40% lower
FROM OUR PRESIDENT:
The story of the year is definitely “Low Inventories Drove Home Prices 21% Higher”. We can assume low inventories will continue to determine Closed Home Volumes and Prices in 2022. 2021 could have seen much higher sales volumes if we had more inventory. Some think inventories will increase nationally, but locally we are so far behind, it will take a while for inventories to increase to normal levels to slow down price increases. Some feel rates may increase and inflation may cause issues that may affect home sales, but again the inventories are so low, it will take a while to get back to normal. My prediction for 2022 is prices will continue to rise in the near term for sure as inventories remain too low. I hope everyone had a great Christmas and praying for many blessings in 2022. - Steven Dotson, President, Red Realty
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All Red Reports include Davidson, Rutherford, Williamson and Wilson Counties.