Welcome to the Nest Jackson 2024 Mid-Year Market Report. Please find the downloadable PDF version of our full Jackson area Mid-Year Report here: Jackson_MYR_2024
Market Performance at a Glance
In Jackson, Tennessee, the first half of 2024 saw significant shifts, reflecting broader economic changes. Interest rates dominated discussions, impacting affordability and purchasing power. As rates rose, the market experienced a shift in demand dynamics, with affordability becoming a key consideration. In the Jackson hub city area, we saw a 3.3% decrease in single family home sales for the first half of the year compared to the same period in 2023; with a 5.1% increase in the average home sale price. Although inventory levels improved, balancing the market somewhat, regional variations persisted and the Jackson MSA continued to experience demand. Properties also took longer to sell compared to the rapid turnover seen in recent years, indicating a cooling in the pace. Investor sentiment remained cautious. These first six months underscored the market’s resilience amid shifting economic conditions. As trusted professionals at Nest Realty Jackson, our goal is to empower our clients with market knowledge, ensuring they feel confident in making the best decisions for themselves and their families. Contact us today.
Written by Marketing on August 8, 2024 Posted in Jackson, Jackson Market Reports, Uncategorized Comments closed
