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Archive for June 2022

Cash sales decline; many were for lower-priced homes 

By Don Fenley | June 26, 2022

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…

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Realtors® celebrate Volunteer Days 

By Rick Chantry | June 26, 2022

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…

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Local high-end home sales pick up steam 

By Don Fenley | June 20, 2022

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…

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Commercial real estate robust despite headwinds 

By Rick Chantry | June 19, 2022

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…

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Pending home sales down for the second month 

By Don Fenley | June 16, 2022

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…

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May commercial real estate transactions up 16.9%  

By Don Fenley | June 14, 2022

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…

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How local data trumps some housing market reports 

By Don Fenley | June 12, 2022

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…

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Inventory, jobs growth today’s key housing market indicators 

By Rick Chantry | June 12, 2022

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…

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May home prices hit new highs, sales down  

By Don Fenley | June 7, 2022

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…

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Relocation buyers, remote workers alter housing market 

By Don Fenley | June 5, 2022

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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