Forbes: Nashville a top market to invest in a home for 2014

Scott Harrison
Staff Reporter-Scott Harrison
Staff Reporter-
Nashville Business Journal

In its housing outlook for 2014, Forbes has ranked the Nashville metropolitan statistical area as the fourth-best U.S. market in which to buy a home next year, noting a growing local economy and housing prices that are still under-valued despite a recent uptick.
For its list, Forbes joined with Local Market Monitor and ranked the best housing markets based on high population and job growth, home prices and the local economy.

The average home price in Greater Nashville is estimated at $199,506 — which is 16 percent less than the market’s actual value, according to Local Market Monitor’s “equilibrium home price” measure.

Nashville-Davidson–Murfreesboro–Franklin, Tenn.
Pop.: 1,582,264
Actual Home Price: $199,506
Equilibrium Home Price: $238,411
Difference: -16%
3-year Growth Forecast: 23%

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