Home sales down, prices up from last year 

GRAY, Tenn. – Tri-Cities area home sales were down for the fifth straight month in November. The price growth rate slowing also continued but not enough to cause a decline.…
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Housing inventory takes on new significance  

GRAY, Tenn. – The Tri-Cities housing market is in an anxious state of equilibrium as it trudges through the last two months of the year. Mortgage rates have doubled with…
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Home inspections are becoming less of a negotiations issue  

One sign that home buyers are regaining bargaining strength is the number of home inspections is increasing. They were one of the things buyers sacrificed during the hypercompetitive market years. …
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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…
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Now 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…
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Housing 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…
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Real 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.…
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Pending 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…
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It’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…
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Housing 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.…
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Tri-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…
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Where 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…
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Changing 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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Investors having larger impact on Tri-Cities home sales

GRAY, Tenn. – Institutional investor activity in the Tri-Cities housing market has picked up to the point where there are enough sales to register on the quarterly ATTOM Data Solutions…
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Successful Realtors® constantly increasing their skills 

One thing that goes hand-in-hand with being a successful Realtor® is a commitment to education. The National Association of REALTORS® (NAR) has designed a special awareness for designations and certifications…
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There’s more to cash home sales story than out-of-state buyers 

Cash sales are the gold standard and fertile ground for local real estate urban legends.   The most frequently cited antidote involves cash-rich, out-of-state buyers swooping in, overbidding locals, and driving…
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Tech surge makes cybersecurity awareness a must for Realtors®, homeowners 

Cybercrime isn’t something that happens to someone or somewhere else. The Tri-Cities has and continues to see its share. Each October since 2004 has been designated Cybersecurity Month.   The National…
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Pending home sales decline for fifth month

Pending home sales declined for the fifth straight month in September. Sellers accepted 752 new contracts, down 116 from August and 115 fewer than September last year.     Pending sales are a…
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Tri-Cities housing affordability by the numbers 

GRAY, Tenn. – One of the biggest threats to the Tri-Cities housing market is not higher mortgage rates or inflation. It’s affordability.    Home prices have increased at a tidy clip…
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Fall ushers in the season when creepy, crawler things look for a new home 

It’s that time of the year when football is king, and children – both little and big – are prepping for Halloween. Nights have turned cooler. And last, but not…
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Local commercial real estate up 3% so far this year

GRAY, Tenn. – Tri-Cities area September real estate transactions are up 3% for the first nine months of this year and down 11% from September last year. The local transaction…
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More homes selling below the asking price than above 

GRAY, Tenn. – We’re ten months into the year and the local market has reached an inflection point. It’s clear that a slow transition is underway. But unless something unforeseen…
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A window of opportunity to get out from under surging rents? 

The temptation to rent by recently retired or will soon retire residents is understandable. Who could blame them for being tempted by the opportunity to take advantage of all the…
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Rising mortgage rates nudge Tri-Cities home prices lower  

GRAY, Tenn. – Rapid mortgage rate increases are nudging Tri-Cities’ short-term home prices lower. September’s typical price dropped to a three-month low. It’s still almost 15 percent higher than last…
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Housing market enters the fall season of change 

GRAY, Tenn. – Later this week, we’ll get our first look at NETAR’s Home Sales Report that shows how the housing market is reacting to the fall season, higher mortgage…
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Realtors® have evolving key roles in helping relocation buyers 

The surge of new residents that escalated during the pandemic continues to drive the Tri-Cities area housing market and much of the local economy. Questions about who these people are,…
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Tri-Cities luxury home sales down 31% since May; eight-month trend up 45% 

GRAY, Tenn. – Rising mortgage rates, stock market volatility, and inflation concerns have pushed Tri-Cities luxury existing housing sales down by 31% since May. But while $500,000 plus sales are…
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How useful are all those so-called data-driven housing reports? 

Two of the most recent national stories that gave the Northeast Tennessee housing market another 15 minutes of fame were:  Realtor.com’s market hotness rankings. The Kingsport-Bristol and Johnson City metro areas were…
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Tri-Cities pending home sales down for 4th month  

GRAY, Tenn. – One of the primary forward-looking monthly housing reports is down for the fourth straight month. Sellers accepted 868 new contracts, down 20 from July and 102 fewer…
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Tri-Cities area condo sellers get extra $11,000 per sale

GRAY, Tenn. – Tri-Cities sellers are getting an average of $11,000 more per townhome/condo sale in NETAR’s primary service area while the number of sales is down 26% from August last…
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Savvy homeowners getting ready because winter is coming 

The Old Farmer’s Almanac is calling it the “season of shivers.” Janice Stillman, the Almanac’s editor, says, “this coming winter could be one of the longest and coldest that we’ve…
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Year-to-date commercial real estate transactions up 54%

GRAY, Tenn. – Tri-Cities commercial real estate (CRE) transactions continued a steady growth pattern in August. So far this year, 393 transactions have been finalized for a 54.7 percent improvement…
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Cash deals, seller discounts, and over-list-price sales 

GRAY, Tenn. – Cash deals accounted for 34% of August’s existing home sales because the number of total sales declined. Cash sales have ranged from 262 to 265 for the…
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Housing turn-over cycle; a slow road to balanced

By RICK CHANTRY  The local housing market is finally showing more signs that it’s stabilizing. Some of the signs are faint, and it would be wishful thinking to expect a…
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Tri-Cities’ hot housing market shows some cracks   

GRAY, Tenn. – The Tri-Cities area’s red-hot housing market is beginning to show cracks. August sales were down from last year, and the sales price increased. But the trend is…
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Rental market steps up its Tri-Cities area game 

GRAY, Tenn. – A new analysis from Attom Data Solutions shows the average vacancy rate for single-family rentals in the Tri-Cities area – including Greeneville – is 2.6%. The news…
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How to get the edge on remodeling, home upgrades trend 

Existing home shoppers have a preference. They want a home that’s 10 years old or less. But today’s market is not like Burger King’s motto – buyers don’t always get…
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Vacant land sales take a breather; still double pre-pandemic levels 

Vacant land sales are taking a respite from last year’s frantic pace. But that doesn’t mean it’s a down market. Demand has steadily grown during the past three years. Much…
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Inventory, inventory, inventory is a market stabilization key 

Inventory will be the key metric for market stabilization in the coming months. So far this year, active inventory has gained every month since April. New listings are also picking…
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Exercise extra due diligence when buying a flipped home 

Local media recently latched onto a Motley Fool report that declared the Tri-Cities two metro areas were among the top five in the U.S. for House flipping in 2022. It…
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Tri-Cities area pending home sales reverse downward trend 

GRAY- Tenn. – Tri-Cities area pending homes perked up in July after three months of decline. Sellers accepted 888 new contracts. That’s 10 more than June and 64 fewer than…
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Inventory, inventory, inventory is a market stabilization key 

Inventory will be the key metric for market stabilization in the coming months. So far this year, active inventory has gained every month since April. New listings are also picking…
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Want a killer lawn next year? Now is the time to set it up 

Autumn isn’t quite here yet, but early morning and evenings are beginning to feel better with a light sweater. And crowds are already gathering for Friday night high school football.  …
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Multi-family sales heat up commercial market  

GRAY, Tenn. – Tri-Cities commercial real estate transactions were almost 11 percent better than the first seven months last year. July’s sales and leases were the same volume as July…
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Local homeowners see dramatic equity gains

GRAY, Tenn. – Remember hearing that a mortgage is a lot like a forced savings account that will make homeowners rich over time?  There were a lot of Tri-Cities homeowners…
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Unpacking July’s home prices and sales data  

July was another month when the local Home Sales Report chronicled new records or had data that was almost a record. That makes it an opportune time to unpack some…
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Tri-Cities area home prices continue climbing, sales down

GRAY, Tenn. – July’s Tri-Cities area home sales were down from last year while prices continued their roller-coaster ride. One example of that ride is the Piney Flats average existing…
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Sellers increase listing prices again in July 

Homeowners continued increasing their listing price for the seventh straight month in July. The only sign of them yielding to a slower market is the rate that they’re upping the…
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Unwanted creepy, crawly guest will soon be showing up 

It’s hard to believe that kids are heading back to school. That means it also won’t be long before nights turn cooler and legions of unwanted creepy, crawly guests will…
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Local home price reality check 

There’s a simple answer to the frequently asked question: “When are home prices coming down?”  The answer is: When demand goes down.  Despite what you read in the mass media,…
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At a showing? Smile, you may be on camera 

The days of having a frank “I like this, or this needs to be fixed” discussion while touring a property are as dead as disco. Odds are you’re on camera…
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Tri-Cities area pending home sales down 10%  

Local pending homes declined for the third straight month in June. Sellers accepted 851 new contracts, down 27 from May and 10% fewer than June last year.  Pending sales are a…
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Cash sales increased in June; VA loan sales claim highest price 

There were slight shifts in how existing homes were sold last month in NETAR’s primary region, which includes Carter, Greene, Hawkins, Johnson, Sullivan, Unicoi, and Washington Co. Tenn.   VA loans…
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Price per square ft is tricky home value territory 

There’s no argument that navigating today’s real estate market is complicated. So, it’s easy to see why buyers and sellers are always looking for solutions that make things less difficult.…
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Commercial real estate posts solid mid-year gains 

June’s commercial real estate transactions were down from May’s total while posting strong (up 50%) year-over-year and six-month trend gains. The local mid-year growth rate is 13.4% better than the…
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61.3% of June condo sales were cash deals 

Everyone knows cash is king in the existing home sales market. But it was king on steroids in June’s local condo market.  A little more than six out of every…
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Mid-year 2022 – The State of the Local Housing Market  

Most mid-year trend indicators point toward a slowing housing market for the last half of 2022. There are some good and some not-so-good outlooks for buyers and sellers. Higher mortgage…
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Local sellers continue increasing listing prices 

Tri-Cities area home sellers haven’t signed onto the reducing prices trend that is beginning to get a lot of media attention. That doesn’t mean there are no local examples of…
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 Housing affordability 101, why it’s important  

The fact that housing affordability has been declining here in NE Tenn. and SW Va. isn’t a revelation. The local market has been on a tear for four years. Sales…
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 June home prices back off all-time high, sales perk up 

June’s typical home sale price backed-off May’s all-time high, but not by much. At the same time, closings perked up from the previous month.  “Almost all six-month trend metrics are…
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Owners of older homes should think about energy upgrades   

Look at any national map these days, and you will see a lot of red that has nothing to do with politics. It’s summer. It’s hotter than normal in many…
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Vacant land sales take a breather; sales, new listings, inventory down 

Vacant land sales are showing signs of slowing.    Sales listed on NETAR’s Commercial Multiple Listing Service (CMLS) were barely equal to those during the first five months of last year,…
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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…
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Realtors® 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…
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Local 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…
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Commercial 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…
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Pending 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…
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May 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…
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How 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…
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Inventory, 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…
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May 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…
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Relocation 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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Homeownership has critical community, economic and social benefits

June is Homeownership Month, and this year’s observance is very different from last year. Last year we were in the fury of the hottest housing market in recent history. This…
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Local Condo Market Continues Strong Performance

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   

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 

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 

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 

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 

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 

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 

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 

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  

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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Housing market robust even as April sales decline  

Northeast Tennessee’s housing market remained robust in April, but with new signs a shift is underway.   Mortgage rates have spiked to their highest level in 13 years, and significant questions…
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Local luxury home sales still booming 

The local hyper-competitive housing market has raised the benchmark for just about all existing home sales categories. Luxury homes sales are no exception.   And the market for properties in the…
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  Real estate has big area small business footprint

The first week of May is the only time when one of the most important pieces of the U.S. and local economies is formally recognized. Small Business Week’s goal is…
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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…
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March 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…
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Is 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…
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Local 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…
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Rents 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…
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Housing 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…
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 March 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…
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Which 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…
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 Be 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…
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Remodeling: 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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How 2021 population, housing growth rates compare 

Last month, new Census data provided a base to compare some regional annual population gains to home sales and prices growth rates.   Only four of the counties monitored by NETAR…
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 Rent or buy? Ownership is best long-term economic option  

Rent or buy? The question keeps coming up because home prices have increased so much and there’s so little inventory. But rents are also rising. There are ample local examples…
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Here’s what local data says about foreclosure market 

 Are foreclosures really on the rise?  You bet they are, but not here in the Tri-Cities region.   The wave of new filings is in Chicago, New York, Los Angeles, Houston,…
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REALTORS® celebrate Fair Housing Because That’s Who We R® 

Every April Realtors commemorate the passage of the Fair Housing Act with events and education programs that focus on housing discrimination and segregation. Fair Housing Month signifies an annual recommitment…
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Townhomes getting more consumer, builder notice 

Rising costs are making townhomes more attractive to builders and consumers. Construction is increasing on both the U.S. and local levels. Robert Dietz, chief economist of the National Association of…
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  Reasons why it’s still a good time to buy 

Geopolitics and inflation have taken some of the sparkle off this year’s prime home buying and selling season. Still, it hasn’t stuffed consumer demand even when combined with the super-low…
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Feb. pending home sales reverse 5-month decline

February’s pending existing home sales reversed a five-month decline and pointed to what’s shaping up as an extremely competitive, slow-growing spring home buying and selling season.   Sellers approved 726 contracts…
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Feb. was soft month for commercial real estate transactions

Commercial real estate transactions were flat last month, according to the Northeast Tennessee Association of Realtors (NETAR).  “There were seven fewer leases and sales than January and three fewer than…
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Feb. cash sales down; VA loans highest sales price 

Cash sales were down in February, and sellers who went for the deals took an average of $3,627 less than the list price.   February’s cash sales market share was 28%,…
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Home sales can still get a hold on growth

Market watchers warned it was coming. But February’s NETAR Home Sales Report was still a shock to some. After a steady diet of sales gains for a decade, seeing “sales…
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Feb. home sales flat, prices continue double-digit gains  

Home sales were flat in February, while the persistent low inventory kept prices in double-digit gain territory. There was one fewer closing than there were on Jan. 2 and nine fewer…
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Lack of inventory drives home prices higher   

As predicted, home sales have gone flat, and the continued lack of inventory is driving prices higher.   The early version of NETAR’s Home Sales Report shows February’s pending sales…
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Here’s what to watch when buying a flipped house 

A headline on a current Realtor.com story declares homebuyers should suit up and be ready to do battle during this year’s prime home buying and selling season. It then promised…
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Higher home prices shutting out some buyers

Lawrence Yun, NAR’s chief economist, recently commented on a CNN report that more supply is needed at the lower end of the market to achieve more “equitable distribution of housing…
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That’s Who We R shows how Realtors® make a difference

If you watch broadcast TV you’ve probably seen one of the “That’s Who We R” spots. If not, here’s what it’s all about.  The spots are part of a National…
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January pending sales down 10.9% from December

Pending home sales trended lower for the fifth straight month in January.   Sellers OK’d 684 contracts, down 84 from December and 41 fewer than January last year.   Pending sales are a…
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There’s less than a month’s townhome, condo inventory for sale

January’s Tri-Cities condo market was a lot like the existing homes sector with the inventory situation on steroids.  Last month the 37 closings were down from 50 last year while…
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Home inspections are important; here’s what to expect

Our housing market is truly in uncharted waters. It was only several months ago when almost all the predictions were for a 2022 market that would be competitive but not…
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Local commercial real estate up 52%, good outlook for 2022

The Tri-Cities commercial real estate market kicked off the new year with a 52% increase in transactions as last year’s growing demand extended into the new year.  Cassie Petzoldt said…
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Local cash sales at 10-year low, still higher than U.S. share

The current national Attom Data Solutions report on cash sales is good example of how local market conditions don’t always follow the U.S. model.  U.S. cash sales accounted for 30.3%…
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Into the weeds with January’s home sales report

January’s Home Sales Report was a little like the stereotypical hangover after a big New Year’s Eve Party.  The comparison to December’s sales was a sobering 30% decline. The median…
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Demographics exert more influence on housing market

Demographic dynamics are rapidly becoming a bigger factor for the housing market. Millennials and the elder GenZers are aging into their prime home-buying years. Combined, they account for the single…
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Watch inventory to see how the market will behave

To get a feel for what the housing market will look like as we head into the prime buying and selling season the metric that stands out is inventory. At…
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Jan. home sales down, prices up 17% from last year

Home sales and prices were down from December’s strong close to the 2021 market. Market performance was less dramatic when compared to January last year.   Closings were down 29.8% from…
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Did the market just shift back into overdrive?

Buyers, sellers, and Realtors® have a long list of things to watch for as the market gears up for this year’s spring buying and selling season. The trend toward less…
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Tight inventory puts pressure on listing price strategy

There are myriad considerations about putting a property on the market this year, but one stands above the rest. It focuses on how strategic pricing plays a critical role during…
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Tri-Cities 2021 vacant land deals up 40.8%

Tri-Cities vacant land transactions joined the rest of the real estate industry segments last year for its best-ever year. Sales and leases were up 40.8%. They have increased 214% since…
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VA loans backed Tri-Cities highest 2021 avg. home sales price

Last year, conventional loans dominated home sales in the seven NE Tenn. Tri-Cities counties. But they didn’t have the highest average sales price. That status went to Veteran Administration (VA)…
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Pending home sales decline 21%

The number of pending existing home sales slid in December, as high prices and rising mortgage rates gave some buyers pause. Others clamored to get deals accepted before more anticipated…
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Local condo prices up, sales down

Prices were up 9.5% for local condominiums and townhomes last year, but sales were down. Lack of inventory and the local preference for detached housing are the drivers for what’s…
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2021 another record-setting year for housing

The books on the 2021 local housing market are almost closed. They’re almost final because the Multiple Listing Service (MLS) numbers for the home sales report were pulled on the…
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Local commercial real estate sales, leases at a new high

Local commercial real estate transactions ended 2021 at a decade high and are expected to perform well despite the prospects of higher interest rates.  Transactions from listings on the two…
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Tri-Cities area home sales raise the bar again in 2021

There were 9,523 closings on existing home sales in 2021. That’s a 10.6% improvement over the 2020 total.  It’s also the second straight year the annual growth rate has been in…
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The right Realtor® makes buying, selling a lot easier

We’re only a week into 2022 and the flood of housing market advice is already cresting. Buy. Sell. Don’t buy now. Don’t sell now. There’s a surge of foreclosures on…
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Tri-Cities area home sales up 10.6%, prices up 16.2%

The benchmark for area home sales and prices moved up a few notches in December. Closings on single-family homes and condominiums were up 10.6% from last year. The median sales…
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Rush to lock in low rates pushes inventory lower

Pending sales outnumbered new listing again in November, wiping out hopes that a couple of months of small active inventory gains would carry into the New Year. The region went…
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How well does your home stand up to energy efficiency marketing?

At the risk of throwing shade on what has been unseasonal mild weather during Christmas, consider this real estate marketing lesson about the local population’s demographics.   While real estate professionals see 60,000 local Millennials entering prime home-buying…
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NE Tenn – SW Va land sales on track for another big increase

Vacant land sales are on track for another annual increase just below the 50% mark. They’ve been on that path since 2020 while sales in some price ranges are well into triple-digit increases.   The three…
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Pending home sales point to another record year

Pending home sales declined from the previous month for the third time in November as the market continued taking a breather from its frantic pace. Compared to last year, last month’s approved contracts point to another record year…
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NE Tenn – SW Va land sales on track for another big increase

Vacant land sales are on track for another annual increase just below the 50% mark. They’ve been on that path since 2020 while sales in some price ranges are well into triple-digit increases.   The three…
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Closing the door on 2021

As my two years serving you as NETAR President draws to a close, I am incredibly grateful to have been entrusted with this honor, privilege, and responsibility. Was it anything…
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Almost a third of local single-family residences are rental units

Nearly one of every three single-family homes or condos in the region monitored by NETAR during the fourth quarter was a non-owner-occupied investment property. Of those 60,463 properties, 3,460 were vacant, giving the region…
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Local real estate data key to good marketing, savvy shopping

By KRISTI BAILEY  Eye-popping describes some of the current headlines about real estate. But savvy consumers should be wary.   Most of what is printed or broadcast in the mass media is based on the so-called national market…
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2021 National Commercial Award and Best Bosses

Congratulations to Jerry Petzoldt for being honored as one of the recipients of the 2021 National Commercial Awards!  This recognition program honors REALTORS® who received an award or recognition for…
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Local commercial real estate up 44.1%

November’s regional commercial real estate market continued its recovery momentum with a 44.1% increase over last year’s transaction performance. So far this year, all but one sector has surpassed market performance during the first 11 months…
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Inflation in the mortgage rates driver’s seat

November’s median existing-home sales price jumped to $210,000. That’s the same level it was at the market peak in August. The reason was buyers saw that mortgage rates were ready…
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Sellers will lose some advantage in the moderating market

Historically November is a month that sees exceptions to the seasonal slowing trend. This year is no exception. Sales didn’t get a bump as they have in years past, but sales prices did. The median…
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November home prices up, sales decline

Home sales declined for the third straight month in November while prices improved from their October level.   There were 741 closings last month. That’s 66 fewer than October and down 4.3 percent from November last year.…
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Demographics take bigger role in future housing needs

Birth rates are not at the top of the list some REALTORS® think about when mapping out leads for new clients. But that’s not the case in the National Association of REALTORS® (NAR) Research…
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Local cash sales continue in 30% of all sales range 

Tri-Cities all-cash home sales mirrored the third-quarter national level, but they part paths when compared to their highest previous levels.  The third-quarter U.S. cash deals were at their highest level since the first quarter of 2015. Local cash…
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Condo sales down, prices up 12%

Condominium sales remain a hot ticket in the local existing home sales market.  So far this year, 469 condo sales have closed compared to 501 during the first 10 months of last…
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Does renting make more sense than buying?

The temptation to rent for folks who recently retired or will soon retire is understandable. The market’s hot. So, seizing the opportunity to take advantage of all that equity increase…
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Home sales energizing overall local economy

So far this year, the sales volume for existing home sales reported by NETAR’s Home Sales Report is $1.9 billion. While that’s a big number, there’s more to the real estate’s impact on the…
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What you need to know about buying a flipped house

There are many reasons sidelined buyers are looking at the closing months of this year as a good time to buy.  Here are a few of those reasons.  Mortgage rates are bouncing below and…
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Pending home sales slow, sellers’ market hangs on    

Pending home sales dipped in October as monthly accepted contract activity declined while the year-over-year comparison continued increasing.  Pending sales are a leading indicator of housing activity based on signed contracts for existing single-family homes…
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Housing continues to outperform the rest of the economy

Home prices and mortgage rates are both climbing. But buyers have shrugged it off for most parts as the housing market continues to stay in front of the rest of the local economy with few –…
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Still want to buy a house this year? Here’s what to know about the local market

Common knowledge holds that fall and winter is not the best time to shop for a home. Check out the Northeast Tennessee Association of REALTORS® (NETAR) October Home Sales Report and you’ll see sales are…
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Local commercial real estate recovery gains momentum

The COVID-19 pandemic ravaged some commercial real estate sectors, but overall the market has bounced back. Investors have made a record number of local leases and sales so far this year.  “There were 43 transactions finalized in October. That…
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October home sales down, prices increase at slower pace

October home sales were down but not enough to push the market’s year-to-date performance off its double-digit growth track.  There were 807 closings last month. That’s 43 fewer than September and 30 fewer than October last year. So far this year, 7,911 single-family and condo…
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Market begins normalizing – seller’s market expected to continue

October was the seventh-month inventory has stabilized. It was slightly lower than the previous month but the trend continues to show a steady increase.  The same thing can be seen for the median time a home…
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Successful REALTORS® are constantly increasing their skills

One thing that goes hand-in-hand with being a successful REALTOR® is a commitment to continuing education. The National Association of REALTORS® (NAR) has designed this month for designations and certifications awareness. The worth of designations, certifications, and continuing education are illustrated by the success of those who take…
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Where the market has taken home prices

Homeowners who sold in September pocked $26,000 more than those who sold in September last year. But if you look at the average sales price the gain it’s almost $40,000.   The median offers a better picture than…
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REALTORS® have key role in helping residents move to the area

One of the hot-button topics these days is the out-of-state people who have been moving to the NE TN – SW VA area. The bottom line is we’re no longer one…
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Communities with increased market share of home sales

Market share is a key indicator of a company’s competitiveness. The market share of home sales is also an indicator of how communities or even neighborhoods are growing or declining.  That…
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Get ready for higher energy bills this winter

The U.S. Energy Information Administration says households should brace for heating bills that could be as much as 54% higher than last year.    It looks like those heating with natural…
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Sept. pending home sales decline    

After four months of flat performance, pending sales were down in September. Owners accepted 996 offers for single-family and condos – a decline of 103 from August.  After four months of flat performance, pending sales…
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Strong market absorbing limited townhome-condo inventory

Unlike the single-family existing home market’s slowly increasing active inventory the townhome and condo inventory is slowly declining. The sales price has increased by double digits like the single-family market.  There were 83…
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Blountville tops area sales growth rate; Church Hill leads median price growth

Although our regional housing market is showing some month-over-month sales slowing, it’s on track for another record year. And with only three months before year’s-end, the performance of the region’s 12…
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Commercial real estate continues above pre-pandemic performance

Commercial real estate (CRE) transactions hit a slump in September but it didn’t dent the local market’s momentum. So far this year, completed sales and leases are up 63.4%. The…
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Active inventory trend shows more homes coming on market

It’s not a quick return to balanced market conditions. Still, the month-over-month trend continues showing more homes are being added to the NE Tenn. – SW Va. active inventory.   September was the sixth straight month…
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Continuing education keeps REALTORS® at the top of their game

A recent career outlook on the Kiplinger network ran a list of professions that the author thinks will become obsolete in the next decade.  At the top of the list was “Real Estate Agent.” The article…
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September housing market takes a breather

The September housing market took another step toward a traditional seasonal pattern in NE Tenn. and SW Va. Monthly home sales and prices declined from August while the average price was substantially higher…
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Vacant land sales continue at a robust pace

Mark Twain’s advice to” Buy land, they aren’t making it anymore” is as good advice now as it was in his era. And while they’re not making any more of it, there’s no scarcity of it…
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Sellers of older homes sharpen strategy with a CLUE report

A marketing challenge for some local sellers is getting past buyer’s apprehension about buying an older home. It’s a concern because most Northeast Tennessee homes have some age on them, while many buyers want something 10 years old or younger. More than half (58 percent) of…
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Listing price trend – the other side of housing market appreciation

Although listing price trends don’t get as much attention as sales prices, they are indicators that warrant some attention.   The average listing price in August was $345,866. That’s 21% higher than…
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It’s time for your home’s seasonal switchover

Summer ended last week, but we didn’t have to wait for the autumn equinox to know that. It’s noticeably cooler in the evenings and early mornings. And the forecast for peak fall colors has been made. The…
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Appreciation growth rate can accommodate price softening

Another indicator that a little bit of the bloom is coming off the local housing market is the number of price reductions showing up. During the first 12 days of September, there were 13 of…
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Making the best purchase offer in a seller’s market

You’ve worked with a REALTOR® to scour the listings, toured what feels like a thousand houses, and finally found it: the house you want to call home. The next step is to make your purchase offer,…
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Pending home sales growth rate slows

Homeowners accepted 1,099 offers for single-family and condo sales in August. It was the fourth month pending sales have been flat. Both the long and short-term trends have returned to the traditional pattern of seasonal slowing as…
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Tri-Cities commercial real estate activity hits high point

 Tri-Cities commercial real estate had one of its best-ever months in August.  There were 64 commercial leases and sales, up 82.9 percent from last year. It’s also noteworthy that activity in the Commercial-Retail and…
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Forbearance exit helps boost inventory

The first wave of borrowers is exiting the forbearance program through October. They have the option to resume making mortgage payments, modify their loan, or cashing out at the top of a hot market.…
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How can be market be slowing when home sales, prices are at record highs?

August’s Home Sales Report made an on-the-surface glaring contradiction. It said there were signs that the market was beginning to come off the sizzling pace it has been on since…
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August home prices surge to an all-time high

There are signs the local housing market is slowly transitioning to more normal conditions. Demand is ebbing, and inventory is gradually increasing. But that didn’t pull August prices and closings off a record-setting pace.  Prices were at all-time highs. And closings were at an…
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Appreciation boosts number of local equity-rich homeowners

During the second quarter of this year, there were almost 65,501 outstanding mortgages in local zip codes. Of those, 20,237 were equity rich. That means they had a loan-to-value ratio of 50% or less. The…
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NETAR awards recognize the local best of the best

A high point at the recent Northeast Tennessee Association of REALTORS® membership meeting was helping present the association’s top awards to some outstanding members. Watching Donna Sartin and Manuel Steffey receive the Mark Keesecker Good Neighbor Award was especially…
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Market gives troubled homeowners a lift

How many times have you heard potential buyers say they’re going to wait for the housing bubble to burst?  That misinformation wisdom is based on some pundits’ – but not…
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When nights get cooler shut out unwelcome pests

 It won’t be long before nights turn cooler, and legions of critters begin looking for a warmer place. That’s when many homeowners schedule their semiannual pest control service. There are also several things homeowners can do themselves to help shut out…
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Market trend good news for first-time buyers

July’s housing trends had some good news for first-time buyers and those shopping in the affordability zone. Sellers added more homes in the $180,000 to $200,000 price range for the fifth straight…
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Smile, you may be on camera during a showing

Be careful what you say at home showings. A third of sellers admitted in a recent LendingTree survey that they used hidden cameras to eavesdrop on showings.  Some say they used the cameras to find out what buyers liked and…
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Pending home sales show signs of seasonal slowing   

Homeowners accepted 1,074 offers for single-family and condo sales in July.  It was the third month new pending sales have been flat. Both the long and short-term trends are beginning to soften as the market transitions…
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Data show active inventory is slowly improving

July’s active inventory trend has some good news for buyers. Both the month-over-month and year-over-year tracking by the NETAR Home Sales Report shows sellers are putting more homes on the market. …
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Five-year home equity outlook favors today’s buyers

Some buyers are part of the tsunami of new residents who have discovered that NE Tenn. and SW Va. Some are at or near retirement. Others are part of the…
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Local commercial real estate market heads for banner year

Commercial real estate scored another strong month in July with the Retail-Commercial and Office Sector accounting for almost half of all transactions. Transactions were up 96.6 percent from July last year, according to the Northeast Tennessee…
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Local home price indexes hit 42-year high

Local home prices continued their upward trajectory in June and reached the highest level since 1979.   The 12-month Home Price Index for the Johnson City metro area was 18.9%. It was 17.6%…
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REALTORS® volunteer to help build strong communities

Most people don’t associate REALTORS® with more than the things the real estate professionals do to get a home from listing to closing. But that’s only part of what REALTORS® do.   …
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NE Tenn. – SW Va. home prices soften, sales up

Buyers got a little relief from rising home prices in July while sales entered the second half of the year on the upswing.  “July was a month of second bests,” said Northeast…
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Expect inventory – but not balanced market conditions – to increase

Barring unexpected complications expect home construction to begin expanding inventory for the next two years.  Kingsport is just one example of how construction is being ramped up. The city has 1,500 lots for single-family and condos in some stage of…
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Now is a good time to sell, and a good time to buy

Three of the most common questions REALTORS® hear are these days are:   When will the housing bubble burst?   Is this a good time to buy?   Is now a good time to sell? …
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Giving hope to weary buyers

How can Realtors boost the morale of buyers in a market where reports of bidding wars, offers above the listing price, and steep price increases dominate the conversation?   One way is to remind them that while…
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Curb Appeal Is Important Even In A Hyper-Sellers’ Market

Athough we’re still solidly in a sellers’ market – and it looks like things are going to stay that way for a while –  some things are as important now as they were in the last buyers’…
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June Pending Home Sales Up from Last Year, Down From May

Homeowners accepted fewer offers for single-family and condo sales in June than they did in May. It’s the first time since February pending sales have declined from the previous month, and the second straight month…
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The local condo-townhome market is sizzling

  The local condo and townhome market doesn’t get as much public attention as the existing and new home markets. That doesn’t mean it’s not sharing in the real estate market’s Midas touch.   …
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Some buyers wave contingencies to be more competitive

There was a time – it wasn’t that long ago – when contingencies were the top challenge to get to closings a home sale. That’s not the case in today’s market.   Some buyers are…
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Commercial real estate gains momentum despite June slump

The local commercial real estate (CRE) market continues gaining momentum despite a June transaction decline. The decline from May was the steepest drop in the past three years. But it is not representative of the mid-year trend.  Reasons vary, but most of the…
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Data show signs of a transitioning housing market

Multiple indicators point to slight housing demand easing and an improvement in the inventory crunch. The market is expected to remain robust with more choices for buyers.  The days a home spends on the market before…
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Mid-Year Housing Data Show Strong Regional, Submarket Growth

It safe to say we’ve just completed a half year like no other in the local real estate history. A look at some of the data from the Northeast Tennessee Association of…
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Fundamentals taking some craziness out of housing market

 During the last 12 months 4,162 local residents took out loans to either refinance or buy a home. That’s a 54% increase from the first quarter of last year. Record-low…
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June local home sales, prices up – market transitioning

June’s home sales were up 6.4 percent from May, and the average sales price was 9.8 percent higher.  “Last month’s housing data – with the exception of prices – also began showing signs that the local…
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How to Avoid Real Estate Cyber Scams

Phishing, hacking, wire fraud – these are all ways people attempt to steal from others online. As real estate searches and transactions move more and more online, the chances of being caught up in a…
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Local vacant land sales beginning to slow

There were 201 vacant land sales in May. That’s 28 fewer than in April. So far this year 967 sales have closed. During the first five months of last year, there were 509 closings.  …
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Why now is best time to list your home

There’s a case to be made that this fall and early winter could be one of the best times to sell your home in years. Here are some of the…
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May pending home sales up 9.9 percent from April

Homeowners accepted an all-time high of 1,083 offers for single-family and condo sales in May. That’s a 9.9 percent increase from April and 23.2 percent higher than May last year.  Pending sales are a leading indicator of…
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Signs for slowing price growth rate

May’s median existing-home sales price was 18.8% higher than it was in May 2020. That double-digit year-over-year trend has been consistent for 10 of the past 11 months. And while it’s less…
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Here’s how and how much real estate contributes to the local economy

Each year during the month of June, the Northeast Tennessee Association of REALTORS® (NETAR) takes the opportunity to celebrate homeownership by showcasing some of the social and economic benefits that protect and promote the American Dream of homeownership.   Homeownership Month was created both to encourage…
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Commercial real estate has best month so far this year

Tri-Cities commercial real estate posted its best month so far this year in May. There were 59 transactions. Last year there were 25.  So far this year there have been 226 transactions,…
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Is today’s red-hot market overpriced?

How much – if any – is today’s existing home sales overpriced is a question on the minds of buyers, sellers, and real estate professionals.  It’s a question that will remain unanswered…
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Is the housing market close to a tipping point?

Inventory has joined price as a closely watched housing market item. What’s on the market has been steadily declining since 2013. It moved to shortage status late last year, but a silver lining to that cloud is developing.  Early this…
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Another double-digit increase for home sales, prices

Home sales and prices continued at a double-digit pace in May despite a slight softening from April’s totals.   “There are some ever-so-slight declines in sales and prices, but the overall market shows no immediate…
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Some inventory relief, but no sign of a softening market

Inventory made the second monthly ever-so-slight increase in May. At month’s end, there were 1,048 active listings, up from 995 in April. That’s still a little less than half of the active…
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Homeownership has critical social, economic benefits

In 1995 National Homeownership Week began as a strategy of President Bill Clinton’s administration to increase homeownership across the nation. In 2002, President George W. Bush expanded the observance to…
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How to find the best home sales comparisons

May will be the final month for the inflated home sale comps this year. They’re inflated because it compares today’s strong market to one where the growth rate bottomed out while the pandemic was trashing the economy.   May 2020 local sales were…
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Price per sq. ft. in tricky home value territory

There is no argument that navigating today’s real estate market is complicated. So, it’s easy to see why buyers and sellers are always looking for ways to make things less difficult. Especially when a property’s price is the issue.  A popular concept that is overused and frequently…
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Tracking market demand with NETAR’s reports

May 24 Market Pulse  There was a time when “what kind of foreclosures are out there” was the most common question a Realtor® heard. And then it was, “how’s the market doing?” Nowadays, it’s…
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Affordable homes still an active part of this hot market

Reports about high prices and the lack of inventory shutting first-time buyers and those looking for affordable homes out of the market are common these days. There’s another side to that story that hasn’t gotten as…
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Why home prices are so hot – is it a bubble?

April home sales are running well above pre-pandemic levels. Put comparisons to last year aside because they are what real estate professionals call a “bad comp.” It’s a comparison of today’s vibrant market to one that…
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Commercial real estate shaking off slump

Market Pulse – May 17  The last two monthly NETAR Commercial Real Estate (CRE) Reports point to a sector shaking off pandemic effects and gearing up for getting back to business as usual. So far this year, the transactions trend is up 44% from…
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Local housing market sees robust April pending sales

If you liked April’s home sales numbers, look for more of the same in May and June.  Homeowners accepted 985 offers for single-family and condo resales in April, setting the stage to continue a strong prime home buying and…
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Local commercial real estate picks up momentum

Commercial real estate transactions were up 65 percent from last year in April.  Transactions have more than doubled during the past two months, with a notable April increase in the retail-commercial sector, according to the Northeast Tennessee Association…
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Market Pulse – May 10

April’s home sales were up 33.7% from April last year, but is that a realistic market indicator?  It’s an accurate number but not totally representative of today’s market conditions.   April last year was the first full month of economic reaction to the pandemic.…
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Competition Drives Homes to Fastest-Ever Sales Pace

Homes are selling in record time. The time on market has declined every month this year, and we’re barely into the prime home buying and selling season.  The median time on market in April was…
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Local home prices soar in April; inventory hits all-time low

Home prices continued double-digit growth in April as inventory dropped to an all-time low. At month’s end, the region monitored by the Northeast Tennessee Association of Realtors (NETAR) Home Sales Report had a 1.3-month supply of homes for sale.  “It was a given…
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Market Pulse – May 3

Vacant land inventory is showing signs of last year’s sales surge. During the first three months of this year, active inventory was down almost 19%, while sales were up 74%. There were 541 sales…
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Real estate is at the core of the region’s economic recovery

 Almost everywhere you look, there’s evidence of a Northeast Tennessee economic revival.  Employers are hiring.  Restaurant parking lots are crowded. Sales tax collections are up. And the local real estate…
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Market Pulse – April 26

The overall NE Tenn. housing market is hot, hot, hot. But so far this year luxury homes are the hottest of the hot. They have outpaced the growth rate for affordable and mid-price range homes by far thanks to the…
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Buying is a better decision than renting

Increasing prices and an inventory crunch drive more discussions about the merits of renting over buying a home.  Buying is both cheaper and a better wealth-building option. Here is why.  Renting a three-bedroom home will average $1,040 out of a family…
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Market Pulse – April 19

Three key housing market data points were in sync at the end of March.    There were 991 homes in active inventory. At the same time, there were 983 pending sales…
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News reports say more termite infestations are being found

According to news reports, 2021 is a year for discovering termite infestations. Inspections related to increased home sales could be a factor. Another is people have been spending more time…
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Commercial Real Estate spikes

WETS’ Business Matters cited NETAR’s March and Q1 Northeast Tennessee Commercial Real Estate Report. Momentum has been building since the fourth quarter of last year. It released in March. Office…
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March NE Tenn. pending home sales set new record

Homeowners accepted 983 offers in March, setting the stage for a strong opening to the prime spring home buying and selling season. March’s accepted offers – pending sales – is…
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Market Pulse – April 12

Tri-Cities area home prices made another double-digit increase in March. The average residential resale price of $229,499 was 23.2% higher than last year. That’s good news for sellers and not-so-good…
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Smaller housing submarkets on top first-quarter stats

Last year demanded a radical new normal for doing business in the housing market. REALTORS® adapted and became leaders for those new best practices. This year, they will do the…
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March sees strong growth for Tri-Cities commercial real estate

Tri-Cities commercial real estate saw its best month in over a year in March. Transactions were up 71.9 percent in the wake of a dramatic increase in office sector activity.…
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Local home sales, prices set a blistering pace

The Tri-Cities area housing market isn’t waiting for the peak spring buying and selling season. March home sales hit a six-month high while the average price in the inventory-starved region…
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Market Pulse – April 5

Buyers are flooding the housing market early in the year. With plenty of buyers and not as many sellers, homes are selling fast at higher prices. So far this year,…
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Prepping for this year’s prime house selling and buying season

There are still some contrarians who think the housing market will crash this year. That’s unlikely. The experts look for an 8 percent price increase this year. That’s down from…
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Market Pulse – March 29

Land sales in the NETAR region continued an upswing last month. Here’s what the February numbers look like: –         151 sales – one more than in January and 45 more than…
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REALTORS® celebrate fair housing commitment

Spring is the time of year when real estate professionals are busy with the beginning of the housing market’s prime buying and selling season. It’s also when they take the…
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Market Pulse – March 22

The current inventory-sales trend is good news for Tri-Cities homeowners who have or will have their homes on the market for the spring and summer buying and selling season. The…
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Good maintenance protects home value

Good maintenance is a significant factor in a home’s value over the long run. While most people have some knowledge of things like cleaning gutters, changing heating and cooling system…
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Pending home sales up by double-digits for 10th month

Sellers approved 178 more offers in February than February last year. That’s a 27.1 percent increase, and the 10th straight month new pending sales have increased by double digits.  …
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Thinking about selling your home – now is the time

The housing market buzz is focusing on when the current sellers’ market will peak, and signs are flashing; now is the time to sell. A March 3 Market Watch headline…
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Market Pulse – March 15

Get ready to see some big home sales numbers. Beginning next month, the year-over-year residential closings numbers will be comparing today’s rising market to last year’s three-month COVID-induced sales decline.…
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Local commercial real estate gains momentum

Commercial real estate (CRE) gained some local momentum in February. Transactions were up from January. Year-to-date transactions were better than the first two months of last year. And listing traffic…
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Local home prices up 27% in February

Home prices soared 27.3 percent in February, while sales in the inventory-starved NE Tenn. – SW Va. market were up 9.3 percent. “It’s a crazy, red-hot market,” Northeast Tennessee Association…
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Market Pulse – March 8, 2021

Realtor.com’s economic forecasting team thinks the market will return to seasonality this year. The typical seasonal patterns were tossed out the window last year as individuals and the markets adjusted…
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Skipping a home inspection before buying could be costly

Home inspections are at the top of the headache list for home resales. They rank second only to appraisals. Both can send a deal back to negotiations or cause it…
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Market Pulse – March 1st, 2021

The average local homeowner who sold last month pocketed an average $37,438 more than someone who sold January last year. That’s a 21.2 percent year-over-year appreciation and better than double…
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What’s my home worth is a loaded web question

Web searches for “what’s my home worth” have been getting a workout during today’s blistering housing market.  I recently ran one and Google found 4,670,000,000 results. Scroll through a few pages…
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Market Pulse – February, 23, 2021

The Tri-Cities region land rush is continuing into 2021. When you combine building lots to vacant land for homes, commercial ventures, agriculture, and now investments, sales were up 48.5% last…
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Home sales play major role in the local economy

Ask anyone how they think the economy is doing and many will point to a stock market update. That’s a good measure of how investors are speculating, but not of…
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Market Pulse – February, 15th 2021

The local housing market is on the cusp of the prime home buying and selling season with a historic shortage of homes on the market and some push and shove…
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It looks like a fiercely competitive prime season

Real estate professionals are buckled up for what looks to be a fiercely competitive prime home buying and selling season, based on what they saw in the Northeast Tennessee Association…
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Tri-Cities commercial real estate continues slow recovery

The Tri-Cities’ commercial real estate (CRE) market continued eking out a slow recovery in January despite continued economic challenges. Transactions and new listings were up from last year, and the…
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Housing market posts double-digit increases

The NE Tenn. – SW Va. housing market stayed on a double-digit increase pace last month.    “January usually isn’t one of the stronger housing months, but this market is…
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State of the 2021 NE Tenn. – SW Va. housing market

By KRISTI BAILEY When Charles Dickens wrote the opening to “A Tale of Two Cities” in 1859, he was almost describing 2020’s events. “It was the best of times, it…
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Truths about Buying in Today’s Market

Thinking about buying a home in 2021?  Here are a few truths for all homebuyers to help you wade through some of the misinformation out there. NOW IS NOT A…
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How to buy a home in a red-hot sellers’ market

By KRISTI BAILEY Facebook posts about new listings getting their first offer in less than a day are becoming commonplace. Ditto for examples of homes selling for – or above…
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Beware of scams lurking among Craigslist’s home rentals ads

By KRISTI BAILEY We have all heard the adage that “if something sounds too good to be true, it probably is.” This consumer nugget needs extra attention for folks looking…
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Pending home sales report shows robust market

Sellers accepted 660 offers in December. That’s 200 fewer than during November but 155 more than December last year. “There is some month-over-month seasonal slowing, but it’s nothing to worry…
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Tri-Cities 2020 commercial real estate transactions up

     Office, industrial, vacant land deals were market’s leaders It wasn’t a big increase, but during a year that saw the worst crash since the Great Depression, the local commercial…
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Millennials and GenZ stepping up to housing in 2021

By KRISTI BAILEY The largest generations in history will step up their influence on the housing industry in 2021.  Millennials have already dominated the first-time buyer ranks, but the leading…
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The local housing market just posted its best-ever year

December was one of the best-ever months for the local housing market, and it closed the books on one of the best-ever years for sales and price heights. “It was…
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Looking back at 2020

By KRISTI BAILEY As we all celebrated the coming of the new year, all signs pointed to it being a great year of smooth sailing for 2020. Nothing could have…
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Looking for housing info – focus on local, local, local

The current headlines about home sales and prices are eye-popping, though customers have become wary.  Firstly, the data set in which we use to calculate statistics is not national; it…
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Nov. pending home sales drop to 7-month low, still at robust level

The NE Tenn. – SW Va. housing market took a breather in November. Pending sales dropped to a seven-month low. But it wasn’t much of a slowdown. There were 860…
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How well have new FHA financing rules for condos worked?

By KRISTI BAILEY New FHA financing rules for condominiums were put in place late last year to open ownership to more first-time buyers. It was a pre-pandemic decision when it…
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2020 a year of rapid change, new housing market records

By KRISTI BAILEY In a couple of weeks, we can close the books on the 2020 housing market. Sales and price appreciation are at an all-time high, according to November’s…
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November commercial transactions up 21.4%

Office, industrial, vacant land deals best CMLS performers The local commercial real estate market is slowly clawing itself out of the COVID-19 black hole. Recovery continues to be uneven, with…
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November home sales down, but it’s still a hot seller’s market

Sales were down slightly from October but up 22.7% from last year. The average resale price was $222,142, up 26.7 percent After an expected minimal seasonal slowdown, Northeast Tennessee and Southwest…
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Remodeling is an approach to get what you need and want

By KRISTI BAILEY Studies show that many buyers prefer a home 10 years old or less, but that may not always doable in today’s local market.   According to the latest…
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Days on market metric plays dual housing role

By KRISTI BAILEY There used to be a real estate rule of thumb that said during normal market conditions meant a six-month inventory of homes for sale, which we have…
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Home prices stay in the double-digit increase zone

By KRISTI BAILEY Local home prices have increased by double digits so far this year despite the pandemic, high unemployment, and a hotly contested presidential election. The area median year-to-date…
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Housing pending sales surge to second-highest level this year

Pending sales surged to a three-month high in October. Sellers accepted 965 new contracts (pending sales), up from 921 in September. October’s pending sales are at a 17.3% increase in…
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NE Tenn. commercial real estate transaction down 11.7%

Office, industrial, vacant land deals weathering the storm —– October’s Commercial Real Estate Market posted a small transaction decline on the heels of its best two months this year. Compared…
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It looks like housing market will have a hot winter

By KRISTI BAILEY The weather may be cooling off, but it looks like this will be a hot winter for the local housing market. The housing market continues to be…
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October home sales cool off, but still on record pace

Local home sales saw some seasonal softening, but it was not enough to pull the market off its record pace. “October sales dropped 13.7% from September, but were 11.5% better…
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How to avoid closing costs sticker shock

By KRISTI BAILEY Closing costs are an all-too-common surprise for some homebuyers. Their focus was on finding their next home, getting a good deal, and the other things that come…
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Home Sales Price Increase as Growth Rate Slows

By KRISTI BAILEY The average Northeast Tennessee home sales price hit a new high in September. It was $218,438. That is 20.7% more than it was in September last year. …
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Housing Market and REALTORS® Sure and Steady in a Crazy Economy

By KRISTI BAILEY The local housing market has hit lots of new benchmarks this year, and there will likely be a few more before the end of the year.  It…
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Pending Home Sales Down for the Second Straight Month

New pending sales continued softening for the second consecutive month in September. That hints that while the market is still on a record sales pace, there is a little bit…
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Now is the time to ensure a killer lawn next year

A couple of weeks ago, we devoted this space to winterizing your home so you could enjoy all a Northeast Tennessee autumn has to offer.  There’s one more item that…
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September Northeast Tennessee Home Sales – Prices Surge to New Highs

The local housing market again surged into uncharted territory in September. Residential closings and the average sales price hit all-time highs while inventory and mortgage rates remained at all-time lows.…
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Northeast Tennessee’s Commercial Real Estate Market Slow Recovery Continues

In September, the commercial real estate market recorded another best month of the year, according to the Northeast Tennessee Association of Realtors (NETAR) monthly Commercial Real Estate Report. Transactions were…
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It’s an unbelievable good housing market, here’s why

By KRISTI BAILEY Housing is currently the brightest spot in our economy. As strange as it may sound, one reason for that is COVID-19. It has altered some fundamental ways…
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REALTORS® strive to keep their skills on the cutting edge

By KRISTI BAILEY Industries are always changing. That makes continuing education essential for workers to stay current with the latest technologies, development, and skills required for their fields. Some professions…
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Do home winterization chores early, then enjoy the fall season

By KRISTI BAILEY The first signs of fall are here. It is noticeably cooler in the evenings and early mornings. The forecast for peak fall colors has been made. It…
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August pending home sales soften, still on record pace

New pending sales were down in August, but not by much. There were 962 new contracts (pending sales) at the end of the month – down from 980 in July.…
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Our housing market seems to have limitless energy

BY KRISTI BAILEY Our housing market is a lot like the Energizer Bunny. You have seen the commercials. They feature a pink drum-beating bunny with limitless energy.  Homes sales –…
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NE TN home sales, prices continue increasing

Northeast Tennessee’s housing market continued its robust recovery for the initial COVID-19 economic shock in August. Home sales were up 9.4%, and the average sales price was an 8 %…
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Tri-Cities commercial real estate market better than what the data shows

August was the best month so far this year for Tri-Cities commercial real estate (CRE) transactions. Web traffic to local listings was also at a 2020 high. But, the number…
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Tri-Cities commercial real estate has best month so far this year

  August was the best month for Tri-Cities area commercial real estate (CRE) so far this year. The transactions total equaled last August’s performance, and listing traffic was at its…
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Six reasons why now is a good time to sell

By KRISTI BAILEY It is ironic that during a pandemic and when the economy is in a recession, it’s one of the best times in years to sell a home.…
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Safety tips for sellers

By KRISTI BAILEY Real estate can be a rewarding and enjoyable career, but it is a high-risk profession. Many real estate professionals find themselves in situations that put them in…
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July was the strongest month for pending sales in 5 years

By KRISTI BAILEY Low-interest rates and high consumer demand sent Northeast Tennessee home sales soaring in June and July, and a forward-looking indicator says it is not over yet. July…
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July pending home sales set new area high point

New pending sales set another high point for the NE Tennessee housing market in July. There were 980 new contracts (pending sales) at the end of the month – up…
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How has record low inventory affected housing affordability

By KRISTI BAILEY “The only thing holding back the local housing market is inventory.” Sound familiar? The issue crept into housing market reports about two years ago. Back in 2016,…
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What’s the biggest threat to your home?

By KRISTI BAILEY Last weeks tremors from the earthquake centered in North Carolina got me thinking about things that threaten our homes. With earthquakes happening only a couple time a…
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NE Tenn. home sales continue robust pace in July

Northeast Tennessee home sales increased 11% in July, and the average sales price was up 7.5%. There were 818 resale closings in July, 81 more than July last year. The…
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Tri-Cities area commercial real estate market perks up in July

Tri-Cities commercial real estate (CRE) began looking a little more like the residential market in July. Transactions increased. Listing sank to a seven-month low. And consumer activity increased. But when…
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Would you make an offer without seeing the home? It’s happening

By KRISTI BAILEY Five months ago, getting a sign-unseen offer for an existing home listing was a rarity. So were buyers waiving contingencies to sweeten their offers.  And what about…
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COVID-19 added to what buyers want in a new home

By KRISTI BAILEY There’s no such thing as the lazy, hazy days of summer in real estate. At least not this year, thanks to COVID-19.  Shelter-at-home curbed the traditional spring…
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It’s a great time to be a seller, but…

By KRISTI BAILEY It’s a fabulous time to be a seller. Interest rates have never been lower. That balances some of the price increases because lower mortgage rates mean a…
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June NE Tenn. pending home sales stay on a hot market pace

New pending sales increased in June. It was a small increase from May’s total, but it was a clear signal the market is not cooling off. There were 889 new…
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A home buyer tool kit for today’s hot housing market

By KRISTI BAILEY The housing market pivot from the brief coronavirus sales lull arrived with a bang in June. It was the best single month for closings, and the average…
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NE Tenn. June home sales, average price sets new records

Northeast Tennessee home sales roared back into record territory in June. Closings on residential resales were 40.9% better than May and up 9.9% from June last year. The average sales…
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Price per sq. ft. is tricky home value territory

By KRISTI BAILEY There is no arguing that navigating today’s real estate market is complicated. So, it’s easy to see why buyers and sellers are always looking for solutions that…
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Mid-year Tri-Cities commercial real estate transactions down 22.5%

Unlike its residential cousin, commercial real estate (CRE) isn’t seeing an early and robust rebound from the initial economic Covid-19 pandemic shock. Total transactions for the first half of this…
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The smart money favors buying instead of renting – even in the current market

By KRISTI BAILEY Have you ever heard someone say they rent because they don’t want to be saddled with a mortgage in these uncertain economic times? Step back and think…
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Home sales, homeownership play major role in local economy

By KRISTI BAILEY It’s almost time to tie a bow on June’s observance of Homeownership Month. Throughout the month, local and national real estate professionals have focused volunteer and information…
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NE Tenn. new pending home sales increase for May

As new pending sales for the local market rose in May, experts anticipate more significant growth in June and July.  There were 881 new contracts at the end of the…
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Local home sales pivoting to a recovery phase

By KRISTI BAILEY Northeast Tennessee’s home sales continued to struggle in May, but indicators point toward a pivot to a recovery phase. There were more closing than there were in…
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May home sales bounce from April’s total, down 21.7% from last year

May’s home sales made a slight bounce from April but continue to be gripped by the coronavirus economic fallout. There were 569 closings in May, up 4.7% from April, and…
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NE TN home sales beginning to bounce back

It looks like NE Tennessee housing sales are already beginning to bounce back from its COVID-19 slowdown. Nationwide, applications for purchase mortgages gained for the seventh straight week, according to…
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Karen Jenkins Story

I’ve always been one to give of my time to others. As far back as high school when many of the scholarships I received were because of my community service,…
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2019 Award Recipients

REALTOR® of the Year The REALTOR® of the Year must meet all of the qualifications of the REALTOR® of Distinction plus have a high level of involvement with Tennessee REALTORS®…
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Owning a home is cornerstone of the American Dream

By KRISTI BAILEY There is an ongoing debate in one corner of the policymaking world about re-evaluating the role of homeownership in the American Dream. It is an extension of…
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Tri-Cities commercial real estate transactions struggle with COVID-19 economic fall out

Tri-Cities commercial real estate (CRE) transactions continued laboring with the economic fallout of COVIX-19 in May. The short-term numbers are about what you would expect. May sales were down 40%…
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Peak buying selling season pushed from spring to summer

By KRISTI BAILEY The buzz in the real estate industry is Coronavirus has shifted this year’s peak spring buying and selling season to the summer. Local indicators are pointing that…
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New pending home sales softening

New pending sales declined in April as the local market reacted to the economic fallout from the coronavirus pandemic. There were 688 new contracts (pending sales) at the end of…
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How to make the best purchase offer in a seller’s market

You’ve worked with a REALTOR® to scour the listings, toured what feels like a million listings, and finally found it: the house you want to call home. The next step is…
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Realtor®-Client relationship more critical now than ever

By KRISTI BAILEY During these chaotic times, the single most crucial thing anyone planning to buy or sell real estate can do is to partner with the right REALTOR®.   Media…
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April home sales down 17.9%; sales price up 14.9%

In April, home sales were down by 17.9% in Northeast Tennessee. However, home prices increased by almost an equal percentage. According to the Northeast Tennessee Association of Realtors (NETAR), 543…
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The who, what, when and why of a home inspection

Homeowners who want to sell must give buyers a disclosure of the property’s known defects. Unless the buyer agrees to buy the property “as is,” one of the steps is…
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Realtors® Report That 77% of Potential Home Sellers are Preparing to Sell Following End of Stay-At-Home Orders

WASHINGTON (May 7, 2020) – More than 3 in 4 potential sellers – 77% – are preparing to sell their homes following the end of stay-at-home orders, with half completing do-it-yourself home…
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Days on Market a housing marketing tool and a market indicator

The Days on Market (DOM) metric that’s typically at the bottom of the Northeast Tennessee Association of REALTORS® (NETAR) Trends Report is more than just a data point. It’s a…
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Mortgage forbearance – the good and the not so good

There are so many housing market hot topics these days that you need a helicopter to say above them. One that’s of interest to homeowners and real estate professionals is…
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New pending home sales see a small increase in March

The economic fallout from the coronavirus pandemic did not have much effect on new contracts for residential resales in March. There were 798 new contracts (pending sales) at the end…
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How to take the pulse of the housing market

The March housing numbers didn’t follow suit with the early coronavirus pandemic drama from other parts of the economy. In fact, sales and prices were pretty much what was expected.…
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A Quarter of Realtors® This Week Report Homes Coming Under Contract Without Buyers First Visiting the Property

WASHINGTON (April 16, 2020) – A quarter of Realtors® with clients putting contracts on homes this week had at least one do so without physically seeing the property, according to a…
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March home sales down 8.4%; first-quarter sales up 1.1%

Tri-Cities home sales were down 8.4% from March last year and up 1.1% from the first quarter of 2019, according to the Northeast Tennessee Association of Realtors. There were 568…
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Each April REALTORS® reaffirm their commitment to the Fair Housing Act

This year’s observance of Fair Housing Month is not happening as planned. Consumers and real estate professionals are currently preoccupied with making the best of the situation we are in…
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With a Spring Real Estate Slowdown Expected, NAR Survey Finds Many Realtors® Hopeful for Post-Pandemic Market Rebound

WASHINGTON (April 9, 2020) – With an expected slowdown in spring real estate business activity, many Realtors® remain hopeful for a post-pandemic market rebound, according to a new survey from the…
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Realtors are innovative, redefining how real estate gets done

It is definitely not business as usual, but REALTORS® are innovative. They are adapting to representing clients during these upside-down times. With current safer-at-home orders and other COIVID-19 driven situations,…
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Housing market sails into uncharted waters

You can depend on COVID-19 pushing the local prime home buying and selling season onto uncharted waters this year.  In the short-term, you can rely on housing and economic data…
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Real estate and the coronavirus – take a deep breath, stay focused

Coronavirus is the housing market disrupter that no one could have seen coming.  And it arrived hand-in-hand with the first look at February’s Northeast Tennessee Association of Realtors® (NETAR) market…
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NAR Survey Finds Nearly Half of Realtors® Say Home Buyer Interest Has Decreased Due to the Coronavirus Outbreak

WASHINGTON (March 19, 2020) – Nearly half of Realtors® – 48% – said home buyer interest has decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors®.…
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Pending home sales cancellation rate may increase

There were about 1000 approved contracts for residential resales awaiting approval at the end of February, according to the Northeast Tennessee Association of Realtors’ (NETAR) latest report. Those contracts were…
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Tri-Cities Commercial Real Estate sales, leases, permits up – volumes down

It wasn’t the best year. But it wasn’t the worst. When you look at the data, 2019 was an OK year for the Tri-Cities Commercial Real Estate (CRE). Sales, leases,…
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Here’s why foreclosure buyers need a buyer’s agent

There was a time when the first words a REALTOR® would hear from a new client was, “What kind of foreclosures are there out there?” Those days are gone, but…
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COVID 19 Information *UPDATED FREQUENTLY*

As the coronavirus remains a growing concern in the U.S. and in Tennessee, our leadership would like to assure you that we are prepared, and that we are keeping a…
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Tri-Cities home sales take a breather

February Tri-Cities’ home sales took a breather from the double-digit increase we saw in January with 30 fewer closings. “Don’t read too much into that,” said Northeast Tennessee Association of…
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Listing price strategy takes on new importance

The initial listing price of a property is one of the single most essential items in a successful real estate transaction, and it does not matter if the market is…
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Low mortgage rates, tight inventory pressures selling strategy

EDITOR’S NOTE – The rate droped to 3.45 percent after this item was written. Do not look for mortgage rates to be a big home sales driver this year. Even…
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Pending home sales trend posts double-digit gain

The Tri-Cities pending homes sales trend posted a double-digit gain over January 2019, according to the Northeast Tennessee Association of Realtors (NETAR) Pending Sales Report. Pending sales are a leading…
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January home sales post double-digit gains

The local housing market started 2020 the same way it ended 2019 – with a bang. January resales were up 16.5%, and there was a tidy 3.3% sales price appreciation.…
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Tri-Cities housing market begins the year with a double-digit sales increase

The Tri-Cities area home sales were up 16.5% in January. The average residential resale price had a 3.3% improvement.   “This is a promising walk-up to the 2020 prime buying and…
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There’s no substitute for partnering with the right Realtor®

The single most important thing anyone planning to buy or sell real estate this year can do is to partner with the right REALTOR®.  All the signs point to a market…
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A flipped home can be great find or a money pit

Unless you are a cash buyer, there is no way around the fact that things can be tough in today’s housing market – especially if you are a first-time buyer…
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Housing market metrics signal, “Now is an excellent time to sell!”

Mortgage rates fell to their lowest point in three months at the end of January, and we are only one-quarter of a percentage point above the all-time low. According to…
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Pending home sales increase for a 2020 sellers’ market

Tri-Cities pending homes sales posted a small increase over November’s total while year-over-year and the moving average trend surged, according to the Northeast Tennessee Association of REALTORS® (NETAR) latest report.…
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Home sales study says single-women tend to buy high and sell low

The folks who specialize in marketing and demographics will tell you women are the principal spending influencers, and that will only increase in the future. Women outnumber men in college…
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2019 was another record-setting year for the local housing market

Wow! That’s the first impression when you look at what the Tri-Cities area housing market did in 2019.  Here are just a few of the milestones. It saw the best annual…
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December home sales lift 2019 housing market to new highs

December was a strong month for the Tri-Cities region’s housing market, and it lifted annual sales and prices to new highs. Kristi Bailey, NETAR 2020 President, said 2019 saw several…
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November pending home sales trend increases despite lagging inventory

Tri-Cities pending homes sales posted an 8.9% seasonal decline November after increased in October, according to the Northeast Tennessee Association of Realtors’ (NETAR) latest report. The year-over-year contract signing short-term trend…
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