Archive for November 2022
Local condo sales slow, prices increase
Local condo sales are slowing the same way single-family sales are slowing. And – just like their single-family cousins, condo prices have increased. During the first 10 months of this…
Read MoreNow is a good time to sell, and a good time to buy
Two common questions Realtors® hear these days are: 1 – Is this a good time to buy? 2 – Is now a good time to sell? The answer is yes…
Read MoreHousing market declining or stabilizing?
GRAY, Tenn. – The housing market slowdown the media has been trumpeting for months is here. Tri-Cities home sales are down and tracking at a pre-pandemic level. All the signposts…
Read MoreReal estate investing takes on a new focus for the under-40 crowd
It shouldn’t be surprising that some of the under-40 population are looking at a different real estate wealth-building strategy than their parents. People 25-40 account for one-in-four Tri-Cities area residents.…
Read MorePending home sales down 28%
GRAY, Tenn. – Tri-Cities area pending sales continued declining for the sixth straight month in October. Sellers accepted 683 new contracts, down 116 from September and 272 fewer than September…
Read MoreIt’s still a sellers’ market, but buyers see more bargaining power
Buyers are regaining some bargaining power as the local housing market continues slowly readjusting. Although sellers are not reducing their original listing prices yet, many are coming off the asking…
Read MoreHousing market’s road ahead bumpy, slow to change
By RICK CHANTRY October’s Home Sales Report clearly defines there’s a market change underway. But it’s not exactly a sales or price bust. Here in NE Tenn. and SW Va.…
Read MoreTri-Cities area home sales down, prices flat
GRAY, Tenn. – Spiraling mortgage rates continued squeezing Tri-Cities area home sales last month. Closings declined for the eighth straight month in October while prices were stubbornly flat. “The market…
Read MoreWhere are Tri-Cities area rentals concentrated?
GRAY, Tenn. – The undisputed highest concentration of single-family rentals in the Tri-Cities region is in Bristol, Va.’s 24201 zip code. Current data list 4,550 rentals. That’s better than half…
Read MoreChanging housing market watchwords: Stay focused, stay local
Understandably, there’s a lot of confusion and concerns about the local housing market. It’s easy to understand why. Real estate transactions have a big local economic footprint. Last year there…
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