March’s pending home sales strained, up a paltry 0.4 percent in the National Association of REALTORS® (NAR)Pending Home Sales Index(PHSI). Two of the major regions in the U.S. experienced higher sales, with the Midwest gaining 2.4 percent and the South gaining 2.5 percent, but in the Northeast, sales slipped 5.6 percent, and in the West, slumped 1.1 percent.
“Healthy economic conditions are creating considerable demand for purchasing a home, but not all buyers are able to sign contracts because of the lack of choices in inventory,” says Lawrence Yun, chief economist at NAR. “Steady price growth and the swift pace of listings coming off the market are proof that more supply is needed to fully satisfy demand. What continues to hold back sales is the fact that prospective buyers are increasingly having difficulty finding an affordable home to buy.”
According to Yun, any considerable improvement rests on supply.
“Much of the country is enjoying a thriving job market, but buying a home is becoming more expensive,” Yun says. “That is why it is an absolute necessity for there to be a large increase in new and existing homes available for sale in coming months to moderate home price growth. Otherwise, sales will remain stuck in this holding pattern and a growing share of would-be buyers—especially first-time buyers—will be left on the sidelines.”
Dorothy Lee’s 22+ years extensive knowledge and experience in Real Estate provides her a unique view of the real estate market and market trends that she is able to share with her clients to help them make the best decisions for their needs and desires. Based in Nashville Dorothy is the expert to help you with all your home buying, selling, and investment needs in Mount Juliet, Madison, Goodlettsville,Old Hickory, Hermitage, Belle Meade, Green Hill’s, Franklin, Brentwood, Gallatin and the surrounding areas. Specializing in first time home buyers, luxury homes, new construction, and investment properties. Dorothy's multi-faceted expertise is of great benefit to her clients. Dorothy truly understands the dynamics of the Tennessee real estate market and is an expert at educating her clients so they can make the best decisions for their needs.
Dorothy uses the latest internet technologies to market and find homes at an expert level. Dorothy understands that the purchase of a home or investment is often the largest financial investment a person will make in their lifetime. She believes REALTORS have an obligation to be well education to provide the level of service and protection her client’s deserve. Dorothy is constantly furthering her knowledge and has earned the designations of Accredited Buyer Representative, (ABR), At Home With Diversity, (AHWD), Certified Residential Specialist, (CRS), Certified Staging Expert, (RESE) and is a Graduate of the Real Estate Institute, (GRI). While Dorothy’s personal awards are too extensive to list individually, she has been amongst the top producers every year for many years running.
Dorothy is a member in good standing of the Local Association of REALTORS (EMTAR), State Association of REALTORS (TAR) , National Association of REALTORS (NAR), Real Estate Buyer’s Agent Council (REBAC), Residential Real Estate Council, (RREC) in addition to the Middle Tennessee Multiple Listing Service (MLS). Dorothy feels that being a REALTOR is about more than joining professional associations, she believes REALTORS should be involved in the communities where they work as well. Dorothy has served her community in many capacities from 1991 to present. She and EXIT Realty also support Habitat for Humanity and to date they have donated over $2 Million to the charity and built more than 15 Habitat Homes. Dorothy understands the stresses and hassles involved in the buying, selling, investing and relocation process and she strives to alleviate these concerns for her clients as much as possible.