Archive for June 2022
Cash sales decline; many were for lower-priced homes
Cash sales have accounted for about one of every three local existing home sales since the first of the year. They have also been credited with driving up local home…
Read MoreRealtors® celebrate Volunteer Days
The most common public vision of a real estate professional typically focuses on the intricacies of marketing a listing and getting it to closing. There’s a lot more. Realtors® have…
Read MoreLocal high-end home sales pick up steam
While there is some softness in overall existing home sales, the $500,000 and above existing market continues booming. Last month there were 101 sales. That is slightly better than twice…
Read MoreCommercial real estate robust despite headwinds
We’re halfway into 2022, and both the local residential and commercial real estate markets continue robust performance despite headwinds. Interest rates are increasing, inflation is at a 40-year high, the…
Read MorePending home sales down for the second month
A forward-looking housing market metric has flashed another declining sales signal for NE Tenn. – SW Va. Sellers accepted 19 fewer contracts than they did in April and 62 fewer…
Read MoreMay commercial real estate transactions up 16.9%
Higher interest rates and inflation have had mixed effects on the local commercial real estate (CRE) market so far this year. Transactions were up for the third straight month in…
Read MoreHow local data trumps some housing market reports
Anyone who reads housing market blogs, newsletters, or mass media reports has come across the claim that sellers are scaling back prices. Altos Research called price reductions a big trend…
Read MoreInventory, jobs growth today’s key housing market indicators
Despite some signs of a slowdown, local homes are still selling fast and at higher prices. May’s Northeast Tennessee Association of REALTORS® (NETAR) Home Sales Report is full of examples…
Read MoreMay home prices hit new highs, sales down
Northeast Tennessee’s home sales are slowing, but not prices. They hit new highs last month. “While it’s inevitable that rising prices will slow down in the coming months, it hasn’t…
Read MoreRelocation buyers, remote workers alter housing market
Relocation buyers have and will continue to fundamentally change the local housing market landscape for the foreseeable future. So far, the most noticeable effect has been a concentration of buyers…
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