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Archive for April 2022

Pending sales surge as buyers rush to lock in low rates  

By Don Fenley | April 25, 2022

March’s pending sales were a replay of February when buyers rushed to lock in mortgage rates before the next increase. Sellers accepted 917 new contracts last month – 191 more…

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March land sales up, down from last year

By Don Fenley | April 24, 2022

March was one of those months when real estate reports were in the up and down mode across the region. Vacant land sales were up 21% from the previous month…

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Is there a limit to sellers’ pricing power?

By Rick Chantry | April 24, 2022

Mortgage rates increased to an 11-year high last month. Inflation was at a 40-year high. And the typical existing home sales price topped out at an all-time high. March’s median…

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Local commercial estate expected to do well despite higher interest rates 

By Don Fenley | April 21, 2022

Local commercial real estate (CRE) transaction activity was slightly higher than February and down 20% from March last year. First-quarter activity was unchanged from last year.   “Transaction activity alone is…

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Rents skyrocket – apartments a hot commercial property asset 

By Don Fenley | April 17, 2022

Local rents are increasing at a rate almost four times the inflation rate in Elizabethton to 2.5 times inflation in Kingsport, Greeneville, and Bristol. The Johnson City rate is slightly…

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Housing market transitioning, affordability top challenge

By Rick Chantry | April 17, 2022

Just when you thought the housing market couldn’t get any crazier, it did. March’s Home Sales Report is a marsh up of more contradictions than local real estate professionals have…

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 March home sales up 36%, another double-digit price increase

By Don Fenley | April 11, 2022

It’s a foregone conclusion that higher mortgage rates will eventually tap the brakes on the overheated housing market. But it hasn’t shown up on the short-term local market yet. March…

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Which homes sold above and below list price by loan source 

By Don Fenley | April 10, 2022

A change in mortgage rates always moves this market. The March increased to the 4% plus ranges, and outlooks say more are on the way, was no exception. It was…

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 Be wary if housing rental deals are too good to be true 

By Rick Chantry | April 10, 2022

Last year the Northeast Tennessee Association of REALTORS® (NETAR) devoted this space to warning consumers about rental scams. Since then, demand for apartments has continued increasing. Landlords continue jacking up…

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Remodeling: New Hardwood Floors and Home Offices Bring Most Joy

By Don Fenley | April 8, 2022

U.S. households saw homeowners and families embark on a wide variety of renovations and remodeling projects over the past year. That is according to new findings in the 2022 Remodeling Impact…

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Recent Posts

  • Vacant land sales decline
  • Sellers market vs. a home buyers strike
  • The slow train to more inventory 
  • VA loans backed Tri-Cities highest avg. home sales price last year 
  • Tri-Cities area pending home sales drop to 5-year low 

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