NASHVILLE, Tenn. (OSBORNE) -- Middle Tennessee’s healthy housing market is getting noticed.
The personal finance website Wallethub.com just ranked 300 cities across the country using 21 key real estate indicators, including foreclosure rates, home value rise year-over-year, and the average number of days it takes to sell a home.
Nashville placed second on the large city list, while Murfreesboro placed in the top ten on the small city list. Analyst Jill Gonzalez says both cities racked up some impressive numbers.
“Less than seven percent of (mid-state) homes are underwater right now. Typically that number is over ten percent. We’re also seeing that the homes are appreciating by anywhere from a quarter to a third of what people originally paid for them, and we are seeing that foreclosures are relatively non-existent in the market. Again, really low rates there.”
Wallethub says the only down-side is that mid-state utility costs are little higher than average.
“Things like your telephone, your cable, your electricity, all tend to be a little pricier in the Nashville area.”
While Middle Tennessee’s housing market is strong, it’s still no match for the red hot real estate market in Texas. The Lone Star State had five of the Wallethub top ten Best Real Estate Markets in the nation.
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