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Archive for May 2022

Local Condo Market Continues Strong Performance

By Don Fenley | May 31, 2022

The regional condominium/townhome market mirrors much of the existing home resales but with at least one notable exception.  Listings are spending much less time on the market than single-family homes.…

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Honor America’s war dead by remembering all veterans   

By Rick Chantry | May 29, 2022

Fifty-one years ago, Memorial Day became an official national holiday. But it had been around much longer. Originally known as Decoration Day, its origins were in the wake of the…

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Local land sales slowing down, but not prices 

By Don Fenley | May 22, 2022

Vacant land prices are holding up well in a market that is slowing from last year’s torrid pace.  April area sales were down 15.7%. Pending sales were down 1.6%. Active…

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Commercial real estate reports rate local economy’s performance 

By Rick Chantry | May 22, 2022

Last week’s National Association of REALTORS® (NAR) Commercial Real Estate Market Conditions Index affirmed local reports and added some high-level context about our market. The first bit of news wasn’t…

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Pending sales down, inventory shows slight increase 

By Don Fenley | May 20, 2022

Higher mortgage rates, the continued lack of inventory, declining affordability, and inflation took a bite out of April’s pending sales.   Sellers accepted 897 new contracts last month, down from 917…

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Strong fundamentals move local commercial market forward 

By Don Fenley | May 16, 2022

The local commercial real estate (CRE) market continues moving forward despite higher interest rates and inflation. According to the Northeast Tennessee Association of Realtors (NETAR) and the National Association of…

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Cash sales picking up as market begin shifting 

By Don Fenley | May 15, 2022

Cash sales are increasing in the local market as they are nationwide. But unlike the national tenor, they are not setting all-time highs.  Last month NE Tenn. – SW Va.…

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Odds are home price increase rate will slow but not decline 

By Rick Chantry | May 15, 2022

For five years, local home prices have been increasing faster than our historical average. It has been and still is a great time to be a homeowner, even though there’s…

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NE Tenn. housing market shift showing up 

By Don Fenley | May 8, 2022

Uncertainty took a toll on NE Tenn. home sales last month. April’s sales were down 18 (2.2%) from March and down 58 (6.5%) from April last year. Year-to-date sales were…

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Like home prices, closing costs have also gone up  

By Rick Chantry | May 8, 2022

Competition for the right house, at the right price, at the best possible mortgage rate too often pushes planning for what happens at closing to the background. And it typically…

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Older Posts »

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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