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Greater Nashville home values fell slightly in June, but home sales were up year-over-year

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(Mike Osborne) — The Nashville real estate market continues to show few signs of a downturn, four months after the Federal Reserve began increasing interest rates.

Data from the Greater Nashville Realtors Association shows the number of homes sold in June increased month-over-month and year-over year. In addition, the time it takes to sell a home fell slightly in June.

On the other hand, the number of pending home sales dropped year-over-year, the median sales price of a single-family home declined slightly for the first time in six months, and the number of homes on the market jumped sharply for the month and year.

Mike Osborne is the News Director for WMOT and can be heard on-air daily.