RED REPORT – APRIL 2018

RED REPORT – APRIL 2018 – Spring Selling Season Continues- April 2018 4% higher than last April 2017

  • INCREASE of 4% in April 2018 vs April 2017 (annual monthly comparison)
  • DECREASE of 1% April 2018 from March 2018 (one month change)
  • INCREASE of 1% Year to Date Closings – 2018 vs 2017

Total Inventories are up 7% for April 2018 verses April 2017

YTD Closings up 1%, Prices 12% higher & Inventories 7% higher than a year ago…

Year to Date: Total 4 counties closings up 1% April 2018 vs April 2017 , Closings are up 4% April 2018 vs April 2017 and Closed Prices are up 12%

Closings & Pendings strong but begin to level off through the Spring Season

One month change from March 2018 to April 2018.

CLOSINGS
▪ Rutherford Closings up 3%
▪ Williamson Closings down 2%
▪ Davidson Closings down 2%
▪ Wilson Closings down 2%
▪ Total 4 Counties are down 1%

PENDINGS
▪ Rutherford Closings up 3%
▪ Williamson Closings up 10%
▪ Davidson Closings down 4%
▪ Wilson Closings down 12%

The Red Forecast – April 2018

Spring selling season continues with the year to date closings just 1% above last year. Prices continue to rise at a very high rate. A 12% increase from a year ago is a very high increase that some would say is unhealthy. This large increase is due to a supply shortage and an increase in cost of lots and new home construction. Everyone from land sellers to material suppliers to subcontractors have raised their prices based on supply/demand which increases the final prices of homes. I do see these prices leveling off at some point, but for now the supply is limited so prices continue to rise.

The forecast going forward continues to look a lot like last year. Inventories continue to drive the sales and will continue to do so.

This has nothing to do with real-estate other than I was blessed to leave the real-estate world for a week to join my church on a mission trip to Guatemala last week. I don’t have enough room here to tell all the stories, but I do have to share about seeing a young man’s hand being healed before our eyes. He was shot seven times when his truck was highjacked leaving him with a hand/fingers that had no feeling and paralyzed after surgery. After a group prayed over him asking Jesus to heal him, his fingers/hand began to have movement. I’ve seen many miracles over time, but nothing immediate with my own eyes in minutes. I was a believer of miracles and prayer before, so this was a great reminder and wonderful gift to see this man’s healing. I was also reminded that America is extremely blessed with clean water and sanitary systems that our government manages so well. Clean water/sewer systems allow us to live in a healthy environment that makes life so much safer and enjoyable. It was also a huge blessing to share this week with my 15 year old daughter, Suzy, who assisted the pharmacy on the medical team who served over 300 patients. What an amazing week!!​

Steven
Steven Dotson
President

1574 Medical Center Parkway
Suite 202
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733
www.RedRealty.com

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