Posts by Don Fenley
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 home sales were down 15.7%. Pending sales were down 1.6%.…
Read MoreLocal 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…
Read MorePending 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…
Read MoreStrong 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…
Read MoreCash 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.…
Read MoreNE 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…
Read MoreHousing 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…
Read MoreLocal 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…
Read MorePending 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…
Read MoreMarch 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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