Archive for November 2021
Condo sales down, prices up 12%
Condominium sales remain a hot ticket in the local existing home sales market. So far this year, 469 condo sales have closed compared to 501 during the first 10 months of last…
Read MoreDoes renting make more sense than buying?
The temptation to rent for folks who recently retired or will soon retire is understandable. The market’s hot. So, seizing the opportunity to take advantage of all that equity increase…
Read MoreHome sales energizing overall local economy
So far this year, the sales volume for existing home sales reported by NETAR’s Home Sales Report is $1.9 billion. While that’s a big number, there’s more to the real estate’s impact on the…
Read MoreWhat you need to know about buying a flipped house
There are many reasons sidelined buyers are looking at the closing months of this year as a good time to buy. Here are a few of those reasons. Mortgage rates are bouncing below and…
Read MorePending home sales slow, sellers’ market hangs on
Pending home sales dipped in October as monthly accepted contract activity declined while the year-over-year comparison continued increasing. Pending sales are a leading indicator of housing activity based on signed contracts for existing single-family homes…
Read MoreHousing continues to outperform the rest of the economy
Home prices and mortgage rates are both climbing. But buyers have shrugged it off for most parts as the housing market continues to stay in front of the rest of the local economy with few –…
Read MoreStill want to buy a house this year? Here’s what to know about the local market
Common knowledge holds that fall and winter is not the best time to shop for a home. Check out the Northeast Tennessee Association of REALTORS® (NETAR) October Home Sales Report and you’ll see sales are…
Read MoreLocal commercial real estate recovery gains momentum
The COVID-19 pandemic ravaged some commercial real estate sectors, but overall the market has bounced back. Investors have made a record number of local leases and sales so far this year. “There were 43 transactions finalized in October. That…
Read MoreOctober home sales down, prices increase at slower pace
October home sales were down but not enough to push the market’s year-to-date performance off its double-digit growth track. There were 807 closings last month. That’s 43 fewer than September and 30 fewer than October last year. So far this year, 7,911 single-family and condo…
Read MoreMarket begins normalizing – seller’s market expected to continue
October was the seventh-month inventory has stabilized. It was slightly lower than the previous month but the trend continues to show a steady increase. The same thing can be seen for the median time a home…
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