Archive for April 2022
Pending sales surge as buyers rush to lock in low rates
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…
Read MoreMarch land sales up, down from last year
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…
Read MoreIs there a limit to sellers’ pricing power?
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…
Read MoreLocal commercial estate expected to do well despite higher interest rates
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…
Read MoreRents skyrocket – apartments a hot commercial property asset
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…
Read MoreHousing market transitioning, affordability top challenge
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…
Read MoreMarch home sales up 36%, another double-digit price increase
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…
Read MoreWhich homes sold above and below list price by loan source
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…
Read MoreBe wary if housing rental deals are too good to be true
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…
Read MoreRemodeling: New Hardwood Floors and Home Offices Bring Most Joy
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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